The labor force participation rate is the
A. total number of people who are participating in the labor force.
B. ratio of the labor force to the total population 16 years old or older.
C. the number of people in the labor force minus the number of people who are unemployed.
D. ratio of the number of employed people to the number of unemployed people.
Answer: B
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In the relevant price range a demand curve for a Giffen good would be
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
One of the reasons fiscal and monetary policy can stimulate output and employment in the short run is that nominal wages increase faster than the price level
a. True b. False Indicate whether the statement is true or false
The water and diamond paradox is explained by the fact that the total utility of water is higher than the total utility of diamonds, but the marginal utility of water is lower than the marginal utility of diamonds. Which of the following goods, when compared, have total and marginal utilities that best reflect the water and diamond paradox, although certainly not as vividly?
a. cake and ice cream b. wine and soft drinks c. jewelry and tattoos d. bread and caviar e. horses and automobiles
The portion of income that is not immediately spent on consumption of goods and services is:
A. investment. B. loanable funds. C. consumption spending. D. savings.