Which of the Following Led to the Decrease in Labour-Force

question 123

Multiple Choice

Which of the following led to the decrease in labour-force participation rates among Canadian men since World War II?

• A)longer schooling, an increase in stay-at-home dads, earlier retirement, and longer lives
• B)longer lives, laws that prevent mandatory retirement, and an increase in stay-at-home dads
• C)better unemployment insurance and laws that prevent mandatory retirement and age discrimination in hiring
• D)easier job searches, better training, and laws that prevent mandatory retirement and age discrimination in hiring

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Average Total Cost

The total cost of production divided by the quantity of output produced; it includes all variable and fixed costs.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Long-run Average Total Costs

The average cost per unit of output where all inputs, including capital, are variable and the firm has adjusted all inputs to find the lowest average cost.