Ceteris paribus, rising employment rates imply
A. Lower labor force participation rates.
B. Higher labor force participation rates.
C. Falling per capita GDP.
D. Rising per capita GDP.
Answer: D
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The more flexible prices are, the
A) greater demand shifts have to be to bring about a new equilibrium. B) larger the shifts in supply will be after a change in demand. C) greater the reliance by sellers to change the nominal price. D) more quickly a shock to the economy can be absorbed.
Do you believe that class size reductions will help student performance?
What will be an ideal response?
Suppose the market clearing price is $20 and the price ceiling is $15. The price that prevails in the market will be
A) $20. B) $15. C) less than $15. D) $0.
Refer to the diagrams. The demand for Firm A's product is:
A. perfectly elastic over all ranges of output.
B. perfectly inelastic over all ranges of output.
C. elastic for prices above $1 and inelastic for prices below $1.
D. inelastic for prices above $1 and elastic for prices below $1.