By definition, the labor force participation rate is
A) the percentage of institutionalized working-age individuals who are employed or seeking employment.
B) the percentage of noninstitutionalized working-age individuals who are employed or seeking employment.
C) the annual rate of growth in the number of people who are either employed or searching for available jobs.
D) the annual rate of growth in the number of people who are unemployed and searching for available government-provided unemployment benefits.
B
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In the United States, the dollar was commodity backed by:
A. silver. B. oil. C. diamonds. D. gold.
A firm that is a natural monopoly
a. is not likely to be concerned about new entrants eroding its monopoly power. b. is taking advantage of economies of scale. c. would experience a higher average total cost if more firms entered the market. d. All of the above are correct.
The profit-maximizing condition for a perfectly competitive firm is:
A. P = MC. B. MR = AVC. C. MR = P. D. P = AVC.
The Federal Open Market Committee oversees the buying and selling of:
a) government securities. b) foreign currencies. c) imports. d) corporate debt.