Inflation is

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multiple choice $1$

a general increase in the prices of all goods and services.

a general decrease in the output of all goods and services.

a general decrease in the prices of all goods and services.

a general increase in the output of all goods and services.

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b$.$ When inflation occurs

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multiple choice $2$

it becomes easier to find a job.

people can buy more with the same amount of money.

people can buy less with the same amount of money.

it becomes more difficult to find a job.

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Labor Force$$of an Economy

$$Number$$of People $($millions$)$Total population$33\mathrm{.}7$Children under the age of $166\mathrm{.}5$Retirees$6\mathrm{.}3$Employed$17\mathrm{.}6$Unemployed$1\mathrm{.}8$Not actively seeking employment$1\mathrm{.}0$Homemakers$0\mathrm{.}5$

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Instructions: Round your answers to one decimal place.

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a$.$ How much of the population is older than $16?$

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$$ million

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b$.$ What is the size of the labor force?

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$$ million

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c$.$ What is the labor force participation rate?

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$\%$

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$$ million

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b$.$ What is the size of the labor force?

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$$ million

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c$.$ What is the labor force participation rate?

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$\%$