The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is
A) 34.8 percent. B) 40.3 percent. C) 63.1 percent. D) 58.3 percent. E) 59.7 percent.
C
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Social Security payments were:
A. originally adjusted for inflation, causing the real value to retirees to decrease over time. B. originally adjusted for inflation, causing the real value to retirees to increase over time. C. not originally adjusted for inflation, causing the real value to retirees to increase over time. D. not originally adjusted for inflation, causing the real value to retirees to decrease over time.
Bank panics were the result of
A. banks holding 100% of their deposits on reserve. B. depositors attempting to withdraw more deposits than the banks held in reserve. C. banks hoarding greenbacks during the Civil War. D. the United States going off the gold standard in 1933.
According to the representative heuristic, if Roger has many of the characteristics of a millionaire, then people will:
A. be less likely to think that he is a millionaire. B. want to have those same characteristics. C. be more likely to think that he is a millionaire. D. think that many people are millionaires.
The principal concept behind comparative advantage is that a nation should:
Compare its volume of trade with other nations Use tariffs and quotas to protect the production of vital products for the nation Concentrate production on those products for which it has the lowest domestic opportunity cost Make the nation self-sufficient in the production of essential goods and services