According to 2012 Data on the U

question 202

Multiple Choice

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the lowest labor-force participation rate?

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

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Definitions:

GDP

Gross Domestic Product, the total value of all goods and services produced within a country's borders in a specific time period, used as a broad measure of economic performance.

Absolute Advantage

The ability of a party to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.

Comparative Advantage

The capability of an entity to generate a product or service with a smaller opportunity cost compared to another entity.

Comparative Advantage

The talent of a country or business to create a certain product or service more efficiently, incurring lower opportunity costs than competing entities.