The labor force is smaller than the total population because the labor force does not include:
A. People who have jobs.
B. The very young and old.
C. People looking for a job.
D. Teachers.
B. The very young and old.
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For antitrust concerns, courts have blocked all of the following proposed mergers except
a. Bethlehem Steel and Youngstown Steel b. AT&T and MCI c. Brown Shoe and G. R. Kinky d. Pabst Brewing and Blitz Brewing e. Von's Grocery and another L.A. supermarket
The major difference between natural resources and capital is that the former refers to naturally occurring resources whereas the latter refers to produced resources.
a. true b. false
Suppose the own price elasticity of demand for good X is ?5, and the quantity of good X decreases by 5 percent. What would you expect to happen to the total expenditures on good X?
A. Unchanged B. Decrease C. Increase D. Neither increase, decrease, nor remain unchanged
Before the period of modern economic growth:
A. only civilizations such as the Roman Empire experienced economic growth. B. rates of population growth virtually matched rates of output growth. C. most economies realized high rates of growth in output per person. D. output and population growth were stagnant.