The employment-to-population ratio is defined as
A) total employment divided by labor hours then multiplied by 100.
B) the labor force divided by the working-age population then multiplied by 100.
C) total employment divided by the labor force then multiplied by 100.
D) total employment divided by the working-age population then multiplied by 100.
D
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If you get a job and are never required to join the union, this is known as a(n)
A) closed shop. B) open shop. C) agency shop. D) union shop.
Which of the following is true?
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market. B. Southern manufacturers benefited from high protective tariffs of the 19th century that kept out cheaper Japanese manufactured goods. C. The canal system linking east-coast rivers with the Great Lakes in the 1820s created an "American economy" rather than just a series of regional economies located in one country. D. Agricultural inventions such as John Deere's steel plows did little to improve farm productivity.
Whenever the additional revenue from the last unit of output exceeds the additional cost of that unit, a profit-maximizing firm should
A. produce more in order to increase profits. B. think about investing in another industry. C. produce less in order to increase profits. D. do nothing, the firm is making profits.
The economic policy of the U.S. government could have been described as laissez-faire until about
A. 1860. B. 1900. C. 1933. D. 1945.