Figure 10-11 -Refer to Figure 10-11. Which of the Following Statements Is

question 398

Multiple Choice

Figure 10-11
-Refer to Figure 10-11. Which of the following statements is correct?

• A)The private value of the 240^th unit of output is $24.
• B)The social value of the 240^th unit of output is $42.
• C)The external benefit of the 240^th unit of output is $18.
• D)All of the above are correct.

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Definitions:

Marginally Attached Workers

Individuals who are not in the labor force, want and are available for work, and have looked for a job sometime in the past 12 months but not in the four weeks preceding the survey.

Bureau of Labor Statistics

The Bureau of Labor Statistics is a government agency that collects, analyzes, and disseminates various data related to employment, wages, and other economic indicators in the United States.

Official Unemployment Rate

The percentage of active job seekers within the labor force who are presently without a job.

Imperfect Measure

A term used to describe a metric or means of evaluation that does not capture or reflect all relevant aspects perfectly.