Question

Name  and explain the two categories of persons in the labor force.

 

 

 

Expert Answer

Want to see the step-by-step answer?

See Answer

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Answer
*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Related Economics Q&A

Find answers to questions asked by student like you

Q: Links between trade and inequality

A: Trade: Trade is an economic activity which includes the buying and selling of goods and services. Un...

Q: What is the definition of internal rate of return (IRR) (it is efficient to write down the formula)?...

A: The internal rate of return (IRR) is a form of capital budgeting that finds the profits received fro...

Q: Calculate the net cumulative change in aggregate expenditure if taxes were cut by $200 billion and M...

A: Multiplier:Multiplier can be calculated as follows:

Q: Suppose a new regulation lowers the interest rates banks can offer on checking account funds. This w...

A: Money demand is the demand for cash balances by the individuals in the economy.Money supply is the t...

Q: If one gas station reduces its prices, must other gas stations match the price reduction?  Why or wh...

A: Price reduction of gas station:If one gas station decreases its price, then the other gas station no...

Q: Only question #1. Little stuck.

A: We have been given the variable - number of people living in a household (X) - and the corresponding...

Q: The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M), an...

A: Dear student, we’ll answer the first question since the exact one wasn’t specified. Please submit a ...

Q: What are two issues with the unemployment rate in any given area?

A: Let us discuss certain concepts related to unemployment rate:Employed: Those people who belong to th...

Q: Suppose that MUx = 10 and MUy = 20. Further suppose that the consumer’s budgetconstraint can be expr...

A: Budget line (or price line): A budget line shows all bundles (i.e. combination of two commodities) w...