Which of the Following Individuals Would Not Be Included in the Labor

question 6

Multiple Choice

Which of the following individuals would not be included in the labor force?

• A)Kit, who has retired and is not looking for work.
• B)Divy, who is on temporary layoff from General Motors.
• C)Soraya, a recent college graduate, who does not have a job, but has applied for several in the last week.
• D)Giles, a physician who chooses to work part-time.

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Definitions:

Production Possibilities

Different combinations of goods and services that an economy can produce using all of its resources efficiently.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, representing the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Increasing Costs

This refers to a situation where the costs of production increase as the output level increases, often seen in industries with limited resources.

Production Efficiencies

Occurs when a firm or economy can no longer produce additional amounts of a good without lowering the production level of another product.