The unemployment rate equals 100 multiplied by the
A) number of people unemployed divided by the number of people employed.
B) number of people unemployed divided by the population.
C) number of people unemployed divided by the labor force.
D) number of people unemployed divided by the working-age population.
E) labor force divided by the number of people unemployed.
C
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In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu. This suggests that:
A) those items are price elastic. B) those items are price inelastic. C) those items are price unitary elastic. D) none of the above.
In the mid- to late 1980s, the United States had "twin deficits" because both ________ and ________ were negative
A) government saving; private saving B) saving; investment C) the current account; investment D) government saving; the current account
When is the profit a firm earns equal to the producer surplus? Explain
What will be an ideal response?
When would demand for a good be more inelastic?
a) when there are fewer available substitutes b) when the time period is considered longer c) when the good is considered more of a luxury good d) when the market is more narrowly defined