To be counted in the labor force
A) a person has to be working at least 40 hours per week.
B) a person has to be at least 16 or older, have a job, or if unemployed has to be actively seeking employment.
C) a person, irrespective of his or her age, has to be working or, if out of work, actively seeking employment.
D) a person has to be over 16 years of age, irrespective of whether she or he is actively seeking work.
B
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Assume that a seller in a perfectly competitive market charges more than the equilibrium price. It is likely that this seller will:
A) increase his sales. B) lose only a few buyers. C) increase his profit. D) lose almost all of his buyers.
The output-capital ratio (Y/K) depends on the following four determinants. Which determinant of these four is most likely to be affected by government growth policy?
A) the nature of the production function B) the depreciation rate C) the growth rate of labor input D) the growth of capital per person