Answer the following statements true (T) or false (F)
1. All people in the non institutional population are counted as members of the labor force.
2. The labor force participation rate describes the civilian labor force as a percentage of the civilian noninstitutional population.
3. The total U.S. labor force excludes members of the armed services stationed outside the United States.
4. All college students are excluded from the U.S. labor force.
5. The increase in U.S. population during the past few years has required an increase in the number of agriculture workers to meet food requirements.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
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Which of the following would be considered an example of monetary policy?
A. Provision of additional cash to the banking system. B. A reduction in income tax rates. C. A broad government initiative to reduce the country's reliance on agriculture and promote high-technology industries. D. A decision by a developing country to reduce government control of the economy and to become more market-oriented.
The CPI in 1974 equaled 0.49. The CPI in 1975 equaled 0.54. The rate of inflation between 1974 and 1975 was ________ percent.
A. 5.0 B. 5.4 C. 10.2 D. 9.3
The long-term supply of labor
A. can vary from region to region but does not change within a region. B. does not depend on location as flows of workers between regions cancel each other out. C. depends on location, as some regions are more attractive to workers. D. generally does not vary much from region to region.
Which type of integration requires adapting domestic policies to coordinate with those of trading partners?
What will be an ideal response?