The labor force participation rate for women in the United States has _____
a. stayed the same over the last 30 years
b. increased significantly since the 1950s
c. decreased significantly since the 1950s
d. fluctuated substantially both upward and downward since the 1950s
e. increased only very slightly since the 1950s
b
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If the demand for a good were completely inelastic,
A) the good is a basic necessity. B) the good is a luxury. C) there are no substitutes for the good. D) there had been a long period of time for people to adjust their behavior. E) people who own the good currently do not want to give it up except at much higher prices.
Human capital is the
A) machinery used by humans to produce GDP. B) technology used by humans to produce GDP. C) skill and knowledge accumulated by humans. D) plant and equipment produced by humans and not by machines.