Which of the Following Statements About the Composition of the U.S.labor

question 46

Multiple Choice

Which of the following statements about the composition of the U.S.labor force during the next decade is true?

• A) The labor force is expected to grow at a greater rate than at any other time in U.S. history.
• B) The largest proportion of the labor force is expected to be in the 16- to 25-year age group.
• C) For the first time ever, the number of workers under 40 years of age will exceed the number of workers 40 years of age or older.
• D) Despite a small increase in the number of young workers, the overall workforce will be aging.
• E) The total cost of labor in the United States would considerably decrease.

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Definitions:

Externality

An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume.

Invisible Hand

A term coined by economist Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests unintentionally benefit society at large.

Economist

A professional who studies the production, distribution, and consumption of goods and services, focusing on how economic agents behave and interact.

Government Intervention

Government intervention involves actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and monetary policies.