Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 175 million people. What is the labor force participation rate?

The absolute price elasticity of demand for a product for which annual expenditures make up a very small share of a typical consumer's budget is probably

A) less than 1. B) equal to 1. C) greater than 1. D) infinity.

A conglomerate merger occurs when

a. the goods produced by the merging firms are not related b. one firm produces goods while the other produces services c. one firm is a domestic firm while the other is a foreign firm d. the firms are in a buyer-seller relationship e. the merging firms produce identical or close substitute goods