What most accurately describes the ratio of federal employment of the total labor force between 1910 and 2007?
a. Between 1930 and 1945 the federal labor force grew dramatically, but after World War II it shrank below pre-Depression levels.
b. Since 1910, federal employment has increased consistently at the rate of about 3% per year.
c. Between 1910 and 1950 federal employment dropped dramatically, but after 1950 it grew consistently.
d. The share of federal employment in the total labor force peaked briefly above four percent during the Korean War, and then began a steady decline to about the same level as the 1930s.
d. The share of federal employment in the total labor force peaked briefly above four percent during the Korean War, and then began a steady decline to about the same level as the 1930s.
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Which of the following is a characteristic of perfect competition?
a. substantial barriers to entry b. homogeneous products c. few sellers d. each firm has significant control over the market
Instrumental variables requires that the variable not be correlated with the outcome variable.
A. True B. False C. Uncertain