The economic term is the opportunity cost.
The concept of opportunity cost is a relatively inexpensive and relative measure that involves people's preferences, so it varies from person to person. It is a question of comparing what is left over when making a decision.
In Katie's case, the opportunity cost of the money she saves to buy a car is what she fails to do with that money. For example, she stops investing in stocks, fails to make a trip, etc.
All decisions involve an opportunity cost. Taking another example, the opportunity cost of studying for the test at the end of the week is measured by the loss of leisure you would have. However, the decision to study for the test is chosen because it is more valuable.
Answer:
labor-force participation rate = 57 %
Unemployment rate = 5.1 %
Explanation:
Given :
Adult population = 62.2 million
Employed population = 33.7 million
Unemployed population = 1.8 million
Therefore labor force can be calculated by = ( Employed population + Unemployed population )
= 33.7 + 1.8
= 35.5 million
Thus labor-force participation rate = ( Labor Force / Adult Population ) x 100
= ( 35.5 / 62.2 ) x 100
= 57.07
~ 57 percent
Now,
Unemployment rate = ( Unemployed / Labor Force) x 100
= ( 1.8 / 35.5 ) x 100
= ( 1.8 / 35.5 ) x 100
= 5.07
~ 5.1
Therefore, labor-force participation rate = 57 %
Unemployment rate = 5.1 %
Answer:
<h3>the correct answer is amplitude</h3>
Explanation:
<h3>hope it helps you</h3>
Explanation:
B State whether the following statements are true or false.
1. Yeast respires aerobically.
2. Plants do not respire at all.
3. Earthworm respires through their moist skin.
4. Insects respire through gill.
5. Respiration releases energy for various metabolic activities.
6. Respiration is a process involved in breathing.
7. Tracheae are connected to tube like structures called spiracles?