The Data Show That in the Long Run, Sustained Growth

question 236

Multiple Choice

The data show that in the long run, sustained growth in the quantity of labor will come from

• A) continual increases in average hours.
• B) constant increases in the labor force participation rate.
• C) constant decreases in the unemployment rate.
• D) increases in the population.
• E) increases in labor productivity.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual values in a dataset deviate from the mean of the dataset.

Random Variable

A variable that can take on numerical results from a random event.

Normally Distributed

Refers to a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Heating Oil

A low-viscosity, liquid petroleum product used as a fuel oil for furnaces or boilers in buildings for heating purposes.