The Labour Force Is Defined as the Number of People

question 17

Multiple Choice

The labour force is defined as the number of people who

• A)are available and looking for work but are unable to find employment.
• B)would like to have a full- time job but are working part- time.
• C)are employed plus the number of people who are unemployed.
• D)would like to have a job but have stopped seeking work.

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Definitions:

Average Expenditure Curve

Supply curve representing the price per unit that a firm pays for a good.

Substitution Effect

The change in consumption resulting from a change in price, causing consumers to substitute cheaper goods for more expensive ones.

Wage

Monetary compensation paid by an employer to an employee in exchange for work performed, typically calculated on an hourly, daily, or piecework basis.

Leisure

Time spent away from work and essential domestic activities, often used for relaxation, hobbies, and personal enjoyment.