The Labor Force Consists Of

question 143

Multiple Choice

The labor force consists of:

• A) employed workers only.
• B) adults who do not have a job but who are looking for work.
• C) employed workers and adults who do not have jobs but who are looking for work.
• D) all adult noninstitutionalized civilians.

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Definitions:

Elasticity of Supply

A gauge for the responsiveness of the amount of a product provided to variations in its price.

Unitary

Relating to a unit or units, often used in economics to describe a situation where a change in one factor results in a proportionate change in another factor.

Quantity Supplied

The amount of a good that producers are willing and able to sell at a particular price over a given period of time.

Rises

An increase or upward movement in a specific parameter or value, often used in financial and economic contexts.