Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) decrease. B) remain constant.
C) increase. D) not change in a way that can be predicted.
B
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The saying "what's that got to do with the price of tea?" reflects
A) two markets where general equilibrium analysis would be most useful. B) two markets where general equilibrium analysis likely won't be very useful. C) two markets where the products are clearly closely related. D) two markets where firms are incredibly greedy.
South Korea used an inward-oriented development strategy to focus on the growth of exports
a. True b. False Indicate whether the statement is true or false
_____ is a good measure of economic well being if policy makers want to satisfy the preferences of buyers
Fill in the blank(s) with the appropriate word(s).
An insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the company that he is more likely to make a claim on a policy. What is the term used to describe the situation above?
A) moral hazard B) adverse selection C) asymmetric information D) economic irrationality