A price floor set above the equilibrium price causes quantity supplied to exceed quantity demanded

Suppose the population of El Campo is 120,000. Of the population 16 years and older, 50,000 are employed, 10,000 have never worked and are not looking for work, 5,000 are not working and are looking for work, and 15,000 are retired and not looking

for work. The labor force equals A) 50,000. B) 55,000. C) 65,000. D) 80,000.

If you have a choice between consuming bundle X or bundle Y, the opportunity cost of consuming bundle X is bundle Y

a. True b. False Indicate whether the statement is true or false