The adult population of a country is 200 million. Of this population, 120 million are employed and 20 million are unemployed. The labor-force participation rate in this country is _____
a. 50%
b. 30%
c. 70%
d. 35%
c
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Suppose that in each of four successive years producers sell more of their product and at lower prices. This could be explained
A. by small annual increases in demand. B. as an exception to the law of supply. C. in terms of a stable supply curve and increasing demand. D. in terms of a stable demand curve and increasing supply.
The size of the labor force in a country is equal to the:
A) number of unemployed workers in the country. B) number of employed workers plus the number of unemployed workers in the country. C) number of employed workers in the country. D) number of employed workers minus the number of unemployed workers in the country.
In the United States since World War II, there has been
a. a dramatic increase in the population living in rural areas b. a decline in the number of women in the labor force c. a decrease in the opportunity cost of working in the home d. more specialization of production within households e. a dramatic increase in the number of married women in the labor force
Which is the most accurate statement?
A. Our trade problems with China are very similar to our trade problems with Japan. B. Our trade deficit with China in the 1990s grew much faster than our trade deficit with Japan. C. We import most of our oil from Japan and China. D. Japan is the dominant trading partner with the U.S.