Scenario 28-1 Suppose That the Bureau of Labor Statistics Reports That the That

question 123

Multiple Choice

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed,3 million people unemployed,1 million discouraged workers,and 1 million people who are either students,homemakers,retirees,or other people not seeking employment.
-Refer to Scenario 28-1.What is the total labor force?

• A)25 million
• B)28 million
• C)29 million
• D)30 million

---

Definitions:

Flynn Effect

The observed substantial and long-sustained increase in both fluid and crystallized intelligence test scores measured in many parts of the world over the 20th century.

Credential Inflation

The increasing demand for higher educational qualifications for jobs that previously required less education.

National Wealth

The total value of all financial and physical assets owned by a country, minus any liabilities.

Corporal Punishment

The use of physical force with the intention of causing a child to experience pain, but not injury, for purposes of correction or control.