Describe the size of government employment as a percentage of the labor force. What are three major types of government employment at the state and local levels and at the Federal level?
What will be an ideal response?
In 2011, government workers accounted for about 16 percent of the labor force. At the state and local levels, the largest components of workers are involved in education either in elementary and secondary schools (42%) or in higher education (11%). This category is then followed by hospital and health care (8%). At the Federal level, the two major types of work categories are national defense (28%) and postal services (22%), followed by hospitals and health care (13%).
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Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, if the market quantity supplied is 350, the price must be
A) $10. B) $20. C) $30. D) $40.
Because pollution reduces economic welfare, on this count real GDP as measured
A) decreases as pollution increases. B) increases to take into account the expenditures that will be made in the future to clean up the pollution. C) overstates economic welfare. D) understates economic welfare.