2019 2020 Year Adult population Number of employed Number of unemployed 2018 2000 3000 3200 1600 1400 200 1300 600 200 Refer to the above table of labor data. What was the labor force participation rate in 2020? 46.2% 50% 20% 56.25%
2019 2020 Year Adult population Number of employed Number of unemployed 2018 2000 3000 3200 1600 1400 200 1300 600 200 Refer to the above table of labor data. What was the labor force participation rate in 2020? 46.2% 50% 20% 56.25%
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 10P
Related questions
Question
4
![Suppose Whitney starts taking the bus to work instead of driving due to gas prices
rising. The Consumer Price Index would overstate the increase in her cost of living
due to:
The substitution bias
Bias from introduction of new goods
Bias from quality changes
The Consumer Price Index would understate Whitney's cost of living](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F555ab963-a6c5-4b87-97e4-57028c05a152%2F7efc1668-0958-4c70-ad4e-7dfdee9c470c%2Fgjje2c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose Whitney starts taking the bus to work instead of driving due to gas prices
rising. The Consumer Price Index would overstate the increase in her cost of living
due to:
The substitution bias
Bias from introduction of new goods
Bias from quality changes
The Consumer Price Index would understate Whitney's cost of living
![Year
2018
2019
2020
3200
Adult population
Number of employed
Number of unemployed
2000
3000
1400
1300
1600
200
600
200
Refer to the above table of labor data. What was the labor force participation rate in
2020?
46.2%
50%
O 20%
56.25%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F555ab963-a6c5-4b87-97e4-57028c05a152%2F7efc1668-0958-4c70-ad4e-7dfdee9c470c%2Fnzf8z5n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Year
2018
2019
2020
3200
Adult population
Number of employed
Number of unemployed
2000
3000
1400
1300
1600
200
600
200
Refer to the above table of labor data. What was the labor force participation rate in
2020?
46.2%
50%
O 20%
56.25%
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