Author Question: The current U.S. population is about 300 million yet the current U.S. labor force is only about 150 ... (Read 94 times)

ss2343 · **on:** Jun 29, 2018

The current U.S. population is about 300 million yet the current U.S. labor force is only about 150 million. What subtractions are made from the population number to set it equal to the labor force?

What will be an ideal response?

Question 2

A perfectly competitive firm has a total revenue curve that is

A) upward sloping with an increasing slope.
B) downward sloping with a constant slope.
C) upward sloping with a decreasing slope.
D) upward sloping with a constant slope.

gstein359 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

The population is first reduced by eliminating those who are less than 16 years of age or institutionalized. Then those who are neither working nor looking for work are eliminated. This leaves just those who are employed or unemployed. These two groups together comprise the labor force.

Answer to Question 2

D