If an Unemployed Person Quits Looking for Work, Then, Eventually

question 350

Multiple Choice

If an unemployed person quits looking for work, then, eventually the unemployment rate

• A)decreases, and the labor-force participation rate is unaffected.
• B)and the labor-force participation rate both decrease.
• C)is unaffected, and the labor-force participation rate decreases.
• D)and the labor-force participation rate are both unaffected.

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Definitions:

Capitalists

Individuals or entities that own capital goods, invest in business ventures, and seek to generate profits within an economic system based on capitalism.

19th Century

Refers to the 1800s, a period marked by industrialization, political changes, and significant technological advancements.

18th Century

The period from 1701 to 1800, recognized in history for significant social, political, and industrial changes worldwide.

Adam Smith

He was an 18th-century Scottish economist and philosopher, best known for his work "The Wealth of Nations", which laid the foundation for classical economics and the concept of an 'invisible hand' guiding free markets.