-The Labor Force Participation Rate Is the Ratio of

question 391

Multiple Choice

-The labor force participation rate is the ratio of

• A) (the labor force divided by the working-age population) multiplied by 100.
• B) (the number of unemployed divided by the working-age population) multiplied by 100.
• C) (the labor force divided by the total population) multiplied by 100.
• D) (the number of unemployed divided by the labor force) multiplied by 100.

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Definitions:

Optimum

Refers to the best or most favorable condition, value, or level of something.

Budget Constraint

A budget constraint represents the combination of goods and services that a consumer can purchase with their limited income.

Indifference Curves

In consumer theory, a graph showing combinations of goods or services among which a consumer is indifferent, reflecting preferences.

Optimum

The condition or outcome that is most favorable or efficient under the given circumstances.