Suppose There Are a Large Number of Men Who Used

question 70

Multiple Choice

Suppose there are a large number of men who used to work or seek work who now no longer do either.Other things the same,this makes

• A)the number of people unemployed rise but does not change the labor force.
• B)the number of people unemployed rise but makes the labor force fall.
• C)both the number of people unemployed and the labor force fall.
• D)the number of people unemployed fall but does not change the labor force.

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Definitions:

Consumer Surplus

The variance highlighting consumers' willingness to pay a higher amount than what is actually spent on a good or service.

Economic Signals

Indicators or pieces of information that guide economic decisions and actions by conveying important data about market conditions.

Marketplace

A physical or virtual space where buyers and sellers converge to trade goods, services, or information.

Market Equilibrium

A situation where the quantity of a good or service supplied equals the quantity demanded, leading to a stable market price.