The labor force participation rate increased significantly throughout the 60s, 70s, and 80s. What caused this increase? Price index:1. What is the base year?90 2. What is the inflation rate from2010 to 2011?2009• 20101003. If the cost of a market basketin 2010 is $2,000, what is thecost of the same basket in2011?2011110201212120131504. In 2013? 2009?5. What is the inflation ratebetween 2011 and 2012?&

Labor force participation rate is ratio of labor force (Employed + Unemployed) to the working age…

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The labor force participation rate increased significantly throughout the 60s, 70s, and 80s. What caused this increase?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Question

The labor force participation rate increased significantly throughout the 60s, 70s, and 80s. What caused this increase?

Price index:
1. What is the base year?
90 2. What is the inflation rate from
2010 to 2011?
2009
• 2010
100
3. If the cost of a market basket
in 2010 is $2,000, what is the
cost of the same basket in
2011?
2011
110
2012
121
2013
150
4. In 2013? 2009?
5. What is the inflation rate
between 2011 and 2012?
&

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