The major change in American labor markets this century is
A) the steady rise of the unemployment rate.
B) the steady rise of the employment rate.
C) the increase in the labor-force participation rate.
D) the increase in the female labor-force participation rate.
D
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If it possible to prevent a person from enjoying the benefits of a good unless the person pays for the good, the good is
A) rival. B) excludable. C) pure. D) free.
Economic status tends to be passed on from one generation to the next _____
a. regardless of the monetary wealth that is transmitted from parents to children b. because of the monetary wealth that is transmitted from parents to children c. in nearly all societies d. a and c
The descriptions give the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment.
1. Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month, but still has not gotten a job offer. 2. George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve. 3. Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in her aircraft design skills. 4. Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year, but was unsuccessful and quit looking for work. Refer to the above information. Which individual is frictionally unemployed? A. 1 B. 2 C. 3 D. 4
A proposal to build a dam on a wild river may look like a good idea from the cost/benefit study done by the Army Corps of Engineers, but an analysis done by the Sierra Club might suggest that the dam would be a complete waste of money. When different groups give us radically different cost/benefit results:
A. we should conclude that the best way to decide who is telling the truth is to find which group has the best intentions. B. the studies may still be useful if we can see the underlying assumptions and estimates of each group. C. we have an example of how cost/benefit analysis does not work as a way of forming policy. D. we should realize that sometimes it is best to trust in the political process rather than try to use an economic approach.