Since 1970, a sizable part of the growth of the U.S. labor force has been due to
a. increased immigration.
b. the entry of more women into the labor force.
c. a lower age limit for labor force membership.
d. increased labor union membership.
b. the entry of more women into the labor force.
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If we were on Lorenz curve M, the top income quintile receives about _____% of income.
A. 24
B. 40
C. 58
D. 80
A decrease in population can be expected to
a. raise land rent b. increase the supply of land c. decrease the demand for land d. increase the demand for land e. decrease the supply of land
Sue Holloway was an accountant in 1944 and earned $12,000 that year. Her son, Josh Holloway, is an accountant today and he earned $210,000 in 2013. The price index was 17.6 in 1944 and 218.4 in 2013. Refer to Scenario 24-3. In real terms, Sue Holloway’s income amounts to about what percentage of Josh Holloway’s income?
a. 11.0 percent b. 114.7 percent c. 70.9 percent d. 65.2 percent
As output rises
A. fixed cost is constant and average fixed cost falls. B. fixed cost and average fixed cost both fall. C. fixed cost and average fixed cost are constant. D. fixed cost falls and average fixed cost is constant.