Table 2-6 Table 2-6 Shows the Output Per Week of Week

question 165

Multiple Choice

Table 2-6
Table 2-6 shows the output per week of two people,James and Lucy.They can either devote their time to making wagons or making tricycles.
-Refer to Table 2-6.What is James's opportunity cost of making a wagon?

• A)2 tricycles
• B)1/2 of a wagon
• C)1/2 of a tricycle
• D)3/4 of a wagon

---

Definitions:

United States Labor Force

The total pool of individuals in the United States who are available to work, including both employed and unemployed people.

Downward Slide

A situation of continuous decline or deterioration over a period of time.

Labor Market Segmentation Theory

A theory suggesting that the labor market is divided into separate segments, based on demographic, industry, or job characteristics, leading to disparities in work conditions and pay.

Primary And Secondary Labor Markets

The division of the labor market into two sectors: the primary with stable, well-paid jobs with benefits, and the secondary characterized by lower wages, less stability, and fewer benefits.