Review Questions

1.
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Who belongs to the working population in the United States?
2.
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What is meant by the labor force?
3.
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Give some examples of persons who are deemed not in the labor force.
4.
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What is the difference between discouraged and marginally attached workers? Although the marginally attached are not employed, are they unemployed?
5.
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Explain the difference between the wage rate and earnings.
6.
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What is the CPI, and how is it used to calculate the real wage?

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