People are not part of the labor force when they
A. Suffer from a temporary illness that keeps them away from their job.
B. Go on vacation.
C. Are old enough to work but choose not to work.
D. None of the choices are correct.
Answer: C
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The major provisions of the Competitive Equality Banking Act of 1987 include
A) expanding the responsibilities of the FDIC, which is now the sole administrator of the federal deposit insurance system. B) the establishment of the Resolution Trust Corporation to manage and resolve insolvent thrifts placed in conservatorship or receivership. C) directing the Federal Home Loan Bank Board to continue to pursue regulatory forbearance. D) prompt corrective action when a bank gets in trouble.
If the CPI in period 1 is 180 and the CPI in period 2 is 240, then the rate of inflation between period 1 and period 2 is
A. 25.0%. B. 33.3%. C. 50.0%. D. 66.7%.
When there is allocative efficiency in a purely competitive market for a product, the minimum price producers are willing to accept is:
A. Less than marginal benefit B. Greater than marginal cost C. Equal to the amount of efficiency or deadweight losses D. Equal to the maximum price consumers are willing to pay
In economic analysis, people's resources are
A) limited and their wants are unlimited. B) unlimited and their wants are also unlimited. C) limited and their wants are also limited. D) unlimited and their wants are limited.