According to 2012 Data on the U

question 159

Multiple Choice

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest labor-force participation rate?

• A) white males
• B) white females
• C) black males
• D) black females

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Definitions:

Wage Rates

The standard amount of pay given to workers per unit of time, which can vary based on job, location, experience, and skill level.

Payrolls

The total amount of wages and salaries paid by a business or organization to its employees, usually recorded over a specific period of time.

Elasticity of Resource Supply

A measure of how responsive the quantity supplied of a resource is to a change in price.

Elasticity of Product Demand

The degree to which the demand for a product changes in response to a change in its price.