The Labor Force Is Defined as

question 121

Multiple Choice

The labor force is defined as

• A)everyone 16 years of age or older.
• B)the employed plus the unemployed.
• C)the employed minus the unemployed.
• D)the civilian non-institutional population over the age of 16.

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Definitions:

Executory

Pertaining to a contract, a term describing obligations that have not yet been performed by one or more parties.

Express Contract

A written or spoken agreement in which all terms are explicitly stated.

Contract Elements

The essential components required for a legally binding contract, including offer, acceptance, consideration, and mutual consent.

Bilateral Contract

An agreement containing mutual promises, in which each party commits to performing acts or refraining from actions.