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

question 105

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 labor-force participation rate?

• A)83.3%
• B)86.7%
• C)93.3%
• D)96.7%

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Definitions:

Obsessive-Compulsive Disorder

A mental disorder characterized by persistent, unwanted thoughts (obsessions) and repetitive, ritualistic behaviors (compulsions) felt necessary to relieve anxiety.

Attention Deficit Hyperactivity Disorder

A neurological disorder characterized by patterns of inattention, hyperactivity, and impulsivity that are not appropriate for a person's age.

Dementia

A decline in cognitive function beyond what might be expected from normal aging, affecting memory, thinking, orientation, comprehension, calculation, learning capacity, language, and judgment.

Dummy Variable

A variable used to model the effect of categorical independent variables. A dummy variable may take only the value zero or one.