Use the Following to Answer Questions

question 173

Multiple Choice

Use the following to answer questions:
-(Table: Unemployment and Employment Data) Use Table: Unemployment and Employment Data. If marginally attached workers are included, the labor force in this economy is _____ million.

• A) 170
• B) 103
• C) 100
• D) 98

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service relative to what they actually pay.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, reflecting the producer's benefit.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a fuel and in the production of chemicals, plastics, and other materials.

Tariff

A tax imposed on imported goods and services to increase their price, protect domestic industries, or generate revenue.