The Total Labor Force Comprises

question 105

Multiple Choice

The total labor force comprises:

• A) all individuals who are employed.
• B) those who are employed plus those who are unemployed.
• C) the population of a nation, aged 16 years and above.
• D) all individuals who are working and those who are not working.

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Definitions:

Invisible Hand

A term coined by Adam Smith to describe the self-regulating behavior of the marketplace.

Economic Power

Economic power refers to the ability of individuals, companies, or countries to influence or control economic conditions, markets, or resources.

Deontological Ethical Theories

Moral theories that prioritize adherence to duty or rules over the consequences of actions in determining the rightness of actions.

Rigid And Formal

Strictly adhering to established rules, procedures, or norms without flexibility.