The working-age population is defined as the number of

A) people over the age of 16 who are not in jail, hospital, or other institution.
B) people who have a job.
C) people working full-time jobs who are over the age of 16.
D) people looking for work.

A

Economics

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What assumptions are made concerning wages and prices in a classical economic model?

What will be an ideal response?

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In the above figure, if the market is competitive and unregulated, the price will be

A) $20 per unit. B) $15 per unit. C) $10 per unit. D) $5 per unit.

Economics