Which of the following is TRUE about the labor force? A) It ...

[Mr.Thesaxman]

Which of the following is TRUE about the labor force?
 
  A) It includes those over 16 ages old and are employed.
  B) It includes those over 16 ages old and are unemployed.
  C) Both A and B are correct.
  D) None of the above is correct.

Question 2

Suppose that the market price of good X equals the firm's cost of producing that good, but it does not reflect any costs imposed on society. Which of the following is FALSE?
 
  A) The good is priced too low.
  B) An external benefit is associated with good X.
  C) Resources are over-allocated in the production of good X.
  D) Too much of good X is being produced.

[lou]

Answer to Question 1

C

Answer to Question 2

B

[Mr.Thesaxman]

Thanks for the timely response, appreciate it

[Laurenleakan]

Wow, this really help