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Economics of Gender, Race, Family Victoria Vernon, Ph.D Empire State College Lesson 1: Trends, Definitions

What is Economics? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Every Choice Has a Cost ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

How do we make choices? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Rational decision example: Go to college? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Labor Force Participation Rate LFPR = Number of people in the labor force (those working or looking for work) Noninstitutionalized working age (age 16 and older) population * 100% For example, in February 2007: LFPR = 152,784,000 230,834,000 * 100% = 66.2% Labor force = employed + unemployed Unemployed = people actively looking for work

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Labor Force Participation Rates

Historical Experience of College Women ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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