Using the Table Above,the Current Population Survey Classifies the Group

question 22

Multiple Choice

Using the table above,the Current Population Survey classifies the group of individuals who are left after subtracting from the total population groups 1,2,3,4,5,and 6 as

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

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Definitions:

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price in a specific time period.

Quantity Supplied

The quantity of a product or service that suppliers are ready and capable of selling at a particular price during a certain timeframe.

Demand Curve

A visual depiction that illustrates the connection between a product's price and the amount consumers are willing to buy at different prices.

Equilibrium Price

The rate at which the supply of goods equals the demand for goods.