Extensive Job Growth in the United States Is Expected in

question 28

Multiple Choice

Extensive job growth in the United States is expected in

• A) medicine, technology, and personal services
• B) food production, processing, and farm labor
• C) oil, gas, and mineral extraction
• D) automotive parts and assembly

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Definitions:

Equilibrium Quantity

The level of goods or services available and in demand at the point of price stability.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers in a market.

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity of goods or services demanded in the market.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services, intended to curb inflation or protect consumers.