If the Working-Age Population Increases, Then

question 80

Multiple Choice

If the working-age population increases, then

• A)the size of the labour force will increase.
• B)the number of people employed will increase.
• C)the unemployment rate will increase.
• D)the labour force participation rate will increase.
• E)the total number of people aged 15 years and above will increase.

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Definitions:

Comparative Advantage

An economic theory stating that a country should specialise in producing and exporting goods in which it has a lower opportunity cost than other countries.

Opportunity Cost

Opportunity cost refers to the value of the next best alternative foregone as the result of making a decision.

Corn

A cereal plant that yields large kernels set in rows on a cob, a staple food in many parts of the world.

Absolute Advantage

A situation where an individual or entity can produce more of a good or service with the same amount of resources compared to others.