Author Question: In an economy, 42 million people are in the labor force, 38 million are employed, and 47 million are ... (Read 89 times)

asmith134 · **on:** Jun 29, 2018

In an economy, 42 million people are in the labor force, 38 million are employed, and 47 million are of working age. How many people are not in the labor force?

A) 19 percent
B) 9 million
C) 5 million
D) 4 million

Question 2

Which of the following is TRUE regarding the circular flow diagram?

I. Aggregate income is the flow of income earned by firms.
II. Retained earnings are considered income earned by firms rather than part of households' income.
III. The government, households, and firms all have transactions in the goods market.
A) I only
B) I and II
C) I and III
D) III only