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Introduction to Economics💰

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Who or what decides what is produced in South Korea?

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Each description below is indicative of which economic system?

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Given the experience of the Koreas, the most effective way to make sure that products are of high quality and safety is having a law that requires all firms to obtain a licence and go through verification.

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The excessive risk-taking before the 2008 financial crisis was due to the government keeping the interest rates artificially low.

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Poorer individuals have more economic opportunities in societies which are more socialist and less capitalistic.

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Hover your mouse over the answer boxes in the question above to see the correct answers. Using these correct values, find the approximate percent change of the labour force participation rate (LFPR) for Canadian women from 1975 to 2009?

Answer: %

Hint: You can ignore the % sign since both values have it (it cancels out). You must use the growth rate formula and plug in two different numbers from the two years. Round your answer to two decimal places.

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What do the two growth rates that you calculated tell you?

Choose two answers.

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Hover your mouse over the answer boxes in the question above to see the correct answers. Using these correct values, find the approximate percent change of the labour force participation rate (LFPR) for Canadian men from 1975 to 2009?

Answer: %

Hint: You can ignore the % sign since both values have it (it cancels out). You must use the growth rate formula and plug in two different numbers from the two years. Round your answer to two decimal places.

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I'm really underpaid with my minimum wage job.

This is an example of unemployment.

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