The Bureau of Labor Statistics counts as employed people who work part-time, but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed
Explain how the unemployment rate and the labor force participation rate would change.
The unemployment rate would increase and the labor force participation rate would stay the same. The number of unemployed would rise, but the labor force would stay the same. The part-time workers who wanted to be full-time workers would simply go from being employed to unemployed. With no change in the labor force, the labor force participation rate would not change.
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Over the last 100 years, real GDP per person in the United States has grown at an average rate of approximately 2 percent per year
Indicate whether the statement is true or false
When a group lobbies for the prevention of free trade, the most likely reason is
A) rent seeking. B) tariff revenue. C) defense against expensive domestic labor. D) preservation of the environment.