Related to the Economics in Practice on P

question 65

Multiple Choice

Related to the Economics in Practice on p.445: If more women enter the labor force and the number of available jobs remains unchanged,the unemployment rate will,ceteris paribus,

• A)increase.
• B)decrease.
• C)remain unchanged.
• D)equal the natural rate of unemployment.

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a certain period of time.

Nonbinding

Describes a regulation or condition that does not restrict the actions or choices of the individuals or entities it applies to.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a market balance.