Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. How many people are in the economy's labor force?

According to the text, the income elasticity of demand for food in industrialized nations is lower than that of poorer nations

Indicate whether the statement is true or false

The problem with adopting a fair-return pricing policy for a natural monopoly is that:

A. Economic profits will be positive B. Economic profits will be negative C. It is not productively efficient D. It is not allocatively efficient