Which of the Following Is Correct

question 273

Multiple Choice

Which of the following is correct?

• A)The labor-force participation rate of women has increased in part due to smaller families.
• B)The labor-force participation rate of men has decreased in part due to men retiring younger and living longer.
• C)Both a and b are correct.
• D)None of the above is correct.

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Definitions:

Absolute Advantage

The ability of a country to produce a good at a lower cost than its trading partners.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive compared to local products.

Trade Deficit

A situation where a country’s imports exceed its exports during a given time period, leading to a negative balance of trade.

Capital

All means of production (mainly plant and equipment) created by people.