The Creation of the Social Security Program Caused a Decrease

question 108

True/False

The creation of the Social Security program caused a decrease in the labor force participation rate.

---

Definitions:

Average Total Cost

The total cost of production divided by the number of units produced, giving a per unit cost of production.

Output

The total amount of goods or services produced by a person, machine, or company.

Producing Units

Entities, such as factories or workshops, involved in the manufacture of goods or the provision of services.

Efficient Scale

The level of production at which a firm's average costs are minimized, and efficiency is maximized.