Institutionalized adults are not considered to be a part of the labor force by the Bureau of Labor Statistics
a. True
b. False
Indicate whether the statement is true or false
True
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The price of a gallon of gasoline in Bonland is $3.20. However, just before the election, the government decides to fix the price of gasoline at $2.80 per gallon. This is an example of a ________
A) positive externality B) negative externality C) price floor D) price ceiling
Just as the theory of the competitive firm provides a more complete understanding of supply, the theory of consumer choice provides a more complete understanding of
a. demand. b. profits. c. production possibility frontiers. d. wages.
You observe that the demand for pomelo is given byQd = 5,000-10Pand the supply of pomelo is given byQs = 1,000 + 30P. What is the market equilibrium for pomelo?
A. P = 500, Q = 16,000 B. P = 200, Q = 3,000 C. P = 100, Q = 4,000 D. P = 50, Q = 2,500
The labor force includes all of the following individuals who are 16 years or older EXCEPT
A) people who have never been in the labor force but have just found a job. B) people who are retired and not actively seeking work. C) the unemployed. D) the employed.