In a recent Forbes article, author Ken Roberts comments the following regarding international trade data from 2017.
In a recent Forbes article, author Ken Roberts comments the following regarding international trade data from 2017.
“In the last quarter-century, U.S. exports have grown from $448.16 billion to $1.55 trillion…In that time, the United States has gone from having 86 export categories valued at more than $1 billion in value to having 248 above $1 billion, the final tally for 2017. We have gone from having six of the roughly 1,265 export categories above $10 billion in 1993 to 22 today.”
- Discuss economic theory related to the quote above. Be sure to include a definition of Labor Force Participation Rate (LFPR) within your discussion.
- Provide an example of the changes in labor force participation rates over the last decade.
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