How has the influx of women into the paid labor force over the past half century influenced economic growth? State at least three of the six reasons given for the increase in the number of women in the paid workforce over the past half century.
What will be an ideal response?
The increase in participation of women in the labor force has increased the supply of labor. This additional resource has increased the production possibilities of the economy and contributed to economic growth. The likely reason that women have participated at greater rates over the past half century are: (1) women’s wage rates have risen; (2) there is greater access to jobs; (3) women in general have changed their preferences and attitudes toward seeking more paid work and employment; (4) birthrates have declined so there is less of an opportunity cost for working or re-entry into the labor force; (5) rising divorce rates have increased interest in working as a means of support and insurance arising from marital instability; and (6) the slower growth of males’ wages provided greater incentive for wives to enter the workforce to increase household income.
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Economists argue that which allocation scheme leads to the most efficiency?
A) market based. B) government based. C) random. D) first-come, first-serve.
In the 19th century, hospitals had notorious reputations—questionable places to visit, risky places to stay. A number of advances changed all this and led to the transition to the modern hospital system. Which of the following changes had nothing to do with the transition?
a. Advances in medical technology b. Availability of health insurance to pay the bills c. Urbanization d. An aging population and the increased incidence of chronic illness that followed e. Development of the germ theory of disease
In the year 2008, nearly half of all privately held federal debt was held by foreign investors.
A. True B. False C. Uncertain
Explain the concept of an empty core