By 1960, What Percentage of the U

question 89

Multiple Choice

By 1960, what percentage of the U.S.workers labored in agriculture?

• A)1%
• B)8%
• C)27%
• D)49%

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Definitions:

Ceteris Paribus Assumption

The assumption used in economics that all other variables are held constant when analyzing the effect of one variable on another.

Behavioral Assumption

An assumption that describes the expected behavior of economic decision makers, what motivates them.

Ceteris Paribus Assumption

A Latin phrase meaning "all other things being equal", used in economics to isolate the effect of one variable change by holding other relevant factors constant.

Other-Things-Constant Assumption

An assumption in economics that all other variables remain unchanged or constant except those under immediate consideration.