Table 9-1 Consider the Data Above for a Simple Economy

question 49

Multiple Choice

Table 9-1
Consider the data above for a simple economy.
-Refer to Table 9-1.The labor force participation rate for this simple economy equals

• A)(1,000/1,100)× 100.
• B)(1,000/15,000)× 100.
• C)(1,100/15,000)× 100.
• D)(1,100/20,000)× 100.

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Definitions:

Physiological Needs

Physiological needs are the basic requirements for human survival, such as air, food, water, shelter, clothing, and warmth, which must be met before individuals can focus on higher-level needs.

Esteem Needs

Psychological requirements for respect, self-esteem, and recognition, as part of Maslow's hierarchy of needs.

Affiliation Needs

The human desire to belong to a group, be accepted, and maintain relationships with others, driving social interactions.

Security Needs

Basic human requirements for safety and stability, including physical safety, employment, resources, health, and property, as essential for well-being.