Refer to Table 9-1. The labor force participation rate for this ...

[jenna1]

Refer to Table 9-1. The labor force participation rate for this simple economy equals
 
  A) (1,100/20,000 )  100. B) (1,000/15,000 )  100.
  C) (1,100/15,000 )  100. D) (1,000/1,100 )  100.

Question 2

Opportunity cost is defined as
 
  A) the highest valued alternative that must be given up to engage in an activity.
  B) the benefit of an activity.
  C) the total value of all alternatives that must be given up to engage in an activity.
  D) the monetary expense associated with an activity.

[strudel15]

Answer to Question 1

C

Answer to Question 2

A

[jenna1]

Excellent

[bdobbins]

TYSM