Suppose We Know the Following Information About the Labour Market

question 76

Multiple Choice

Suppose we know the following information about the labour market.Over a one-month period: -total number of previously unemployed workers that found jobs = 500 000
-total number of individuals that became unemployed = 500 000
During the same month the unemployment rate increased from 7.1% to 7.3%.It must be the case that

• A)the population increased during that month.
• B)the population decreased during that month.
• C)a certain number of people entered the labour force during that month.
• D)the gross flow and the net flow into unemployment are equal.
• E)a certain number of people left the labour force during that month.

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Definitions:

Materials

Substances or components used in the production or manufacturing of goods.

Equivalent Unit

A measure used in cost accounting to express the amount of work done on incomplete units in terms of fully completed units.

Materials

The raw inputs or components that are used in the manufacturing process to create finished goods.

Equivalent Units

A concept used in cost accounting to convert partially completed goods into the equivalent of fully completed units.