The participation rate in the U.S. has increased steadily over time. First, explain what the participation rate represents. Second, explain why the participation rate has increased
What will be an ideal response?
The participation rate is the ratio of the labor force to the working age population. One of the reasons for the significant increase in the participation rate is the increasing participation of women in the labor force.
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Rebecca can stitch 6 shirts in a day while Eliza can stitch only 5 shirts in a day. Rebecca can stitch 2 trousers in a day while Eliza can stitch 3 trousers in a day. Which of the following is true in this case?
A) Rebecca has a comparative advantage in stitching trousers. B) Eliza has an absolute advantage in stitching trousers. C) Rebecca has an absolute advantage in stitching trousers. D) Eliza has a comparative advantage in stitching shirts.
The difference between slope and elasticity is that slope measures absolute change and elasticity measures percentage change
a. True b. False Indicate whether the statement is true or false