Alex Works in His Own Home as a Homemaker and Full-Time

question 45

Multiple Choice

Alex works in his own home as a homemaker and full-time caretaker of his children.Officially, he is

• A)unemployed.
• B)employed.
• C)not in the labor force.
• D)in the labor force.

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Definitions:

Domestic Demand Curves

Graphs showing the quantity of a good that consumers in a domestic market are willing and able to purchase at various prices.

Import Demand Curves

Charts representing the volumes of a product that an economy is ready to import at various price points.

Export Supply Curves

A graphical representation showing the relationship between the quantity of a good that producers are willing to export and the price of the good in the international market.

Equilibrium World Price

The price at which the quantity of a good supplied globally equals the quantity demanded, in international trade.