The labor force is the sum of the
A) working-age population and the number of unemployed people.
B) number of employed people and the working-age population.
C) number of employed people and the number of unemployed people.
D) total population and the number of unemployed people.
Question 2
Intermediate goods are excluded from GDP because
A) their inclusion would involve double counting.
B) they represent goods that have never been purchased so they cannot be counted.
C) their inclusion would understate GDP.
D) the premise of the question is incorrect because intermediate goods are directly included in calculating GDP.
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