The labor force participation rate is the
A. the number of people in the labor force minus the number of people who are unemployed.
B. total number of people who are participating in the labor force.
C. ratio of the number of employed people to the number of unemployed people.
D. ratio of the labor force to the total population 16 years old or older.
Answer: D
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The opportunity cost of holding money is:
A. the nominal interest rate. B. the rate of inflation. C. the real interest rate. D. the nominal interest rate less the cost of converting a bond to cash.
The table below shows cost data for a firm that is selling in a purely competitive market.OutputAverage Variable CostAverage Total CostMarginal Cost10$5.00$15.00$3124.0013.004144.7511.506165.759.009209.0012.0014Refer to the above cost chart. Which output level will the firm never produce?
A. 10 B. 20 C. 12 D. 16
The most accurate quantitative time measure is:
a. Self-report or diary method b. Recall method c. Observation method d. A combination of all of the above methods to allow for cross checks.
Anchoring occurs when:
A. someone's choices are linked to prominent but patently irrelevant information. B. someone's choices are linked to prominent and relevant information. C. someone's choices are made in the absence of relevant information. D. someone's choices are based solely upon proven and relevant information.