By Definition, the Labor Force Participation Rate Is

question 409

Multiple Choice

By definition, the labor force participation rate is

• A) the percentage of institutionalized working-age individuals who are employed or seeking employment.
• B) the percentage of noninstitutionalized working-age individuals who are employed or seeking employment.
• C) the annual rate of growth in the number of people who are either employed or searching for available jobs.
• D) the annual rate of growth in the number of people who are unemployed and searching for available government-provided unemployment benefits.

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Definitions:

Equilibrium Price

The price at which the quantity demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Government

The organization or system through which a community, state, or nation is governed and regulated.

Nonprice Rationing

Nonprice rationing is the allocation of goods or services using means other than price, such as waiting times or ration coupons, especially when there are shortages.

Coupons

Vouchers entitling the holder to a discount off a particular product or service.