The U.S. labor force participation rate has changed over time, as has the participation rate of various segments of the U.S. population due to social changes. Choose one social change that you expect to happen in the coming decades. Explain how this will affect the labor force participation rate of various demographic groups.
What will be an ideal response?
Answers to this question will vary but should clearly identify an expected social
change, such as the growing proportion of Latino Americans or Asian Americans, or the
continued retirement of the baby boomers. Students should explain how that change
relates to the labor force participation rate. For example, the growing population of
Latino Americans will mean that the labor force participation rate for that group will rise
as school-age Latino Americans enter the workforce and more working-age immigrants
arrive in the United States and find jobs. As the population for non-Latino whites
declines, as more white Americans retire and fewer have children, their labor force
participation rate will likely decline.
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A) a rise in the price of spinach B) a newly discovered health benefit from eating spinach C) an increase in the price of broccoli, a substitute for spinach D) an increase in income for all spinach lovers
The transactions demand for money
A) varies directly with nominal Gross Domestic Product (GDP). B) varies inversely with nominal Gross Domestic Product (GDP). C) varies negatively with real nominal Gross Domestic Product (GDP). D) has no relationship with nominal Gross Domestic Product (GDP).
Monopolistic competition is similar to monopoly in that: a. firms face perfectly elastic demand curves
b. firms sell products for which there are no close substitutes. c. there is relatively free entry and exit. d. firms have some influence over the product price.
Which of the following is an example of an implicit cost?
a. salaries paid to owners who work for the firm b. interest on money borrowed to finance equipment purchases c. cash payments for raw materials d. foregone rent on office space owned and used by the firm