1. The labor force participation rate increased steadily in the US from 1950 to 2000 until starting to decline. Which of the following contributed to this? a. Increasing skilled workers b. Higher levels of education c. Women entering the workforce d. Baby boomers retiring e. all of the above f. (a) and (b) g. (c) and (d) h. (b) and (c)

2. In the circular flow model, which of the following best describes the relationship between firms and the factor market? a. Firms supply factors and receive income for this. b. Firms supply factors and pay income for this. c. Firms demand factors and receive income for this. d. Firms demand factors and pav income for this p. Firms sell factors and receive income for this