By definition, the labor force participation rate is
A) the percentage of institutionalized working-age individuals who are employed or seeking employment.
B) the percentage of noninstitutionalized working-age individuals who are employed or seeking employment.
C) the annual rate of growth in the number of people who are either employed or searching for available jobs.
D) the annual rate of growth in the number of people who are unemployed and searching for available government-provided unemployment benefits.
B
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People who attend college for four years in order to equip themselves to earn higher incomes in later life are
A) discounting the future at a higher rate than do people who don't attend college. B) giving up future satisfaction for the sake of current satisfaction. C) ignoring the fact that future income has less value than current income. D) investing in human capital. E) revealing a high rate of time preference.
To reduce the principal-agent problem,
A) managers can take on more risk than they disclose to investors. B) managers can inflate profits on financial statements. C) boards-of-directors can tie the salaries of top management to the profitability of the firm. D) managers can hide liabilities by not disclosing them on financial statements.