The labor force is the sum of
A) employed workers and individuals not looking for work.
B) unemployed workers and the working-age population.
C) employed workers and discouraged workers.
D) employed workers and unemployed workers.
D
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An increase in the quantity of resources available
A) shifts the PPF leftward. B) shifts the PPF rightward. C) moves the economy to a new point up along a given PPF. D) moves the economy to a new point down along a given PPF.
Answer the following questions true (T) or false (F)
1. The payment received by suppliers of entrepreneurial skills is called wages. 2. In the circular flow model, households demand resources such as labor services in the factor market. 3. In economics, the term "free market" refers to a market where products are traded but not sold.