If the Number of Unemployed Equals 10,000, the Number of Employed

question 55

Multiple Choice

If the number of unemployed equals 10,000, the number of employed equals 70,000, and the number not in the labor force is 20,000, the labor-force participation rate is

• A) 60%.
• B) 70%.
• C) 80%.
• D) 90%.

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Definitions:

Diversification Strategy

A growth strategy whereby a firm introduces a new product or service to a market segment that it does not currently serve.

Market Penetration

The extent to which a product or service is recognized and purchased by customers in a particular market.

Marketing Mix

The strategic set of actions that a company uses to promote its brand or product in the market, involving variations of product, price, promotion, and place strategies.

Marketplace

Any venue, physical or digital, where goods, services, or information are exchanged between buyers and sellers.