Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 2, Problem 2MCQ
To determine
The question requires us to define the labor force.
Expert Solution & Answer
Explanation of Solution
The labor force is the sum of the employed and
The people are considered employed who are already working and getting some compensation for their working hours, while the people are considered unemployed who are not working now, but actively looking for a job.
Labor force = Employed people + Unemployed people.
Therefore, the labor force is made up of everyone employed and unemployed.
Chapter 2 Solutions
Krugman's Economics For The Ap® Course
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