The major change in American labor markets this century is
A. the increase in the labor-force participation rate.
B. the steady rise of the employment rate.
C. the steady rise of the unemployment rate.
D. the increase in the female labor-force participation rate.
Answer: D
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Refer to Figure 10.9. Other things equal, a negative demand shock is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
Which of the following is an example of an organization using marginal analysis?
a. A government official considering what effect an increase in military goods production will have on the production of consumer goods. b. A farmer hoping for rain. c. A businessman calculating economics profits. d. A hotel manager calculating the average cost per guest for the past year.
A regulated natural monopolist allowed to earn a "fair" rate of return would produce to the point at which
A. the price per unit equals its marginal revenue. B. the price per unit equals the long-run average cost. C. the marginal revenue curve meets the long-run average cost curve. D. the marginal revenue curve meets the long-run marginal cost curve.
A strategy is dominant if
A) it yields a greater payoff than any other player receives. B) it yields a payoff at least as large as that from any other strategy, regardless of the actions of other players. C) the player cannot gain by changing strategy, assuming that no other player changes strategy. D) it is part of a Nash equilibrium.