The labor force participation rate is the
A) proportion of the labor force that is unemployed.
B) proportion of the noninstitutionalized adult population in the labor force.
C) proportion of the labor force that is employed.
D) proportion of the noninstitutionalized adult population that is employed.
B
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If at a given wage, the quantity supplied of labor exceeds the quantity demanded of labor:
A) the wage rate will fall. B) the wage rate will increase. C) the aggregate price index will rise. D) the aggregate price index will fall.
In the 1990s, the price level in Japan fell relative to the price level in the United States. If the exchange rate did not change, one would expect that:
A. both U.S. exports to Japan and U.S. imports from Japan would rise. B. U.S. exports to Japan would decline and U.S. imports from Japan would rise. C. both U.S. exports to Japan and U.S. imports from Japan would fall. D. U.S. exports to Japan would rise and U.S. imports from Japan would decline.
Which of the following will likely cause an increase in output per worker?
A) an increase in education expenditures B) an increase in the saving rate C) an increase in on-the-job training D) all of the above
Which of the following is best characterized as a public good?
A. a public library B. primary education C. police protection D. a church