The Labor Force Includes All of the Following Individuals Who

question 408

Multiple Choice

The labor force includes all of the following individuals who are 16 years or older EXCEPT

• A) people who have never been in the labor force but have just found a job.
• B) the employed.
• C) the unemployed.
• D) people who are retired and not actively seeking work.

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Definitions:

Producer Surplus

The difference between the amount that producers are willing and able to supply a good for and the amount they actually receive (selling price).

Equilibrium

A state in which market supply and demand are balanced, and as a result, prices become stable.

Market

A place or system where buyers and sellers interact to trade goods, services, or resources.

Price

The money total set, required, or given as remuneration for something.