The labor force participation rate is calculated as:Select o

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The labor force participation rate is calculated as:Select one:

a. the percent of the population age 16 or older that is in the labor force.

b. the percent of the entire population that is unemployed.

c. the percent of the labor force age 16 or older that is employed.

d. the percent of the population age 16 or older that is unemployed.

Which of following is true about socialism?

Select one:

a)all of the above.

b)prices are set by the government.

c)the means of production (land and capital) are owned by the government.

d)economic decisions are made by the government.

What is the effect of a minimum wage in a low-skill labor market?

Select one:

a)all of the above.

b)a lower quantity of labor demanded.

c)a higher wage.

d)a higher quantity of labor supplied.

Which of the following represents the largest share of aggregate demand?

Select one:

a)consumer purchases

b)government purchases

c)foreigner purchases

d)business purchases

Which of the following is a microeconomic topic?

Select one:

a)inflation.

b)the overall economy.

c)an individual market.

d)total GDP.

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