Kaile Earns $10 as a Lab Technician

question 24

True/False

Kaile earns $10 as a lab technician.She can work up to 60 hours per week but usually works 35 hours.She spends several hours every week reading in the park.She says that she likes this because it is free.Kaile is right: sitting in the park with a book is costless.

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Definitions:

Normative Economic Statement

A statement expressing a value judgment about what ought to be, based on personal values or opinions rather than factual evidence.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by gross domestic product (GDP) growth.

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.

Balance Of Trade

The difference between a country's exports and imports of goods and services over a certain period.