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How does the BLS classify people who are "not in the labor force," and what people are often in this category?
If an individual surveyed (that is, who is age 16 or over and not institutionalized) is neither employed or unemployed, that individual is measured "not in the labor force" according to the BLS. Often people in this category are in school, retired, disabled, or taking care of people in their households and communaities.
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
Outline four limitation of game theory?
How do we measure economic growth and why do we need economic growth? (ii) What can governments do to stimulate economic growth and create jobs? (provide some current examples) (ii
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prove that the utility approach and the indifference curve approach yield the same consumer equilibrium
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
Capital: Broadly defined, capital represents tools that people use when they work, to make their work more efficient andproductive. Under capitalism, capital can also refer to a su
Calculate the enthalpy change for stepE. that is for the reaction: Na(s)+ water (arrow) Na(ion)+ OH(ion)+ Hydrogen (g)
Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the
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