Suppose the population of El Campo is 120,000. Of the population 16 years and older, 50,000 are employed, 10,000 have never worked and are not looking for work, 5,000 are not working and are looking for work, and 15,000 are retired and not looking
for work. The labor force equals A) 50,000.
B) 55,000.
C) 65,000.
D) 80,000.
Question 2
A significant increase in the price of tennis balls will most likely lead to
A) an increase in the demand for tennis racquets.
B) an inward shift in the demand for tennis balls.
C) a movement along the demand curve for tennis racquets.
D) an inward shift in the demand for tennis racquets.
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