Examlex
Which of the following statements are true concerning the labor force participation rate?
i.The labor force participation rate for women in the United States has increased since 1959.
ii.The labor force participation rates for women across different countries have converged to about 50 percent.
iii.The labor force participation rate for men in the United States has decreased since 1959.
Rational Individual
An assumption in economics that individuals make decisions based on the maximization of their personal utility, acting with self-interest and complete information.
Traveling By Plane
The act of moving from one place to another distant place by aircraft, commonly used for long-distance travel.
Minimum Value
The lowest value in a given set of data or the lowest point on a function's graph.
Opportunity Cost
Giving up possible rewards from different alternatives by choosing one path.
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