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Author Question: The unemployment rate will decrease when A) people get discouraged and quit looking for work. B) ... (Read 38 times)

lilldybug07

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on: Jun 30, 2018
The unemployment rate will decrease when
 
  A) people get discouraged and quit looking for work.
  B) the age of the labor force increases.
  C) the average workweek falls from 40 to 39 hours.
  D) the duration of unemployment increases.

Question 2

Where does profit enter in the circular flow? Why?
 
  What will be an ideal response?


stanleka1

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

Profit is a payment made to entrepreneurs just as wages are a payment made to labor. Entrepreneurs must be rewarded for providing their services, and profit is the reward. Hence, profit is a cost of production.


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