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Author Question: What determines if a person is in the labor force? What will be an ideal ... (Read 47 times)

londonang

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on: Jun 29, 2018
What determines if a person is in the labor force?
 
  What will be an ideal response?

Question 2

If an increase in income leads to in an increase in the demand for peanut butter, then peanut butter is
 
  A) a neutral good. B) a necessity. C) a normal good. D) a complement.
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billybob123

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Workers who have a job and workers who are unemployed are in the labor force. To be officially counted as unemployed, and thus in the labor force, means that the person does not have a job but is available and willing to work and has made some effort to find work within the past four weeks, or waiting to be called back to a job from which he or she has been laid off, or waiting to start a new job within 30 days.

Answer to Question 2

C


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