Assume Adult Males Have a 47% Share of the Work

question 14

Multiple Choice

Assume adult males have a 47% share of the work force and their unemployment rate is 8.6%, adult females have a share of 45% and their unemployment rate is 8.4%, and teenagers have a share of 8% and their unemployment rate is 21%.Approximately what is the overall unemployment rate?

• A)9)0%
• B)9)5%
• C)9)8%
• D)10.2%
• E)10.4%

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Definitions:

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; decreases as production increases.

Average Variable Cost

The per unit cost of variable inputs divided by the total quantity of output produced, reflecting the variable cost of production.

Marginal Revenue

The additional income generated by increasing product sales by one unit.

Marginal Cost

The expense associated with manufacturing an extra unit of a product or service.