FHCE 2100 Lecture 5: 8.29

• School: University of Georgia
• Department: Financial Planning, Housing and Consumer Economics
• Course: FHCE 2100
• Professor: Dr.Kabaci

Document Summary

Marsha: still writing (rejected), considering getting full time job. Friend marsha is single mom with a young child. The fundamental economic role of the family has not changed: as always, the economic role of the family is to provide for its members . Labor enables the family to produce goods and services to meet the needs and wants of family members. Historically that would have been through home production. Today, probably a combination of market work production (income) and home production. Department of labor: www. bls. gov, measures labor market activity, working conditions, and price changes in the economy, to collect, analyze, and disseminate essential economic information to support public and private decision making. The labor force participation rate is the percentage of working age persons in an economy who: Ratio is calculated dividing the number of people actively participating in the labor force by the total number of people eligible to participate in the labor force.