How Is Canada's Unemployment Rate Determined

question 108

Multiple Choice

How is Canada's unemployment rate determined?

• A)The rate is determined by Canada Census data.
• B)The rate is determined by a survey of Canadian employers.
• C)The federal government department HRSDC (Human Resources and Skills Development Canada)conducts a monthly survey of the labour force.
• D)Statistics Canada conducts a Labour Force Survey each month.
• E)An estimate is produced by HRSDC based on the previous month's unemployment rate adjusted by the current month's job losses and job gains.

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Definitions:

Monopoly Power

The ability of a company or group to control the market for its product or service, thus limiting competition.

Local Community

A group of people living in the same area or having a particular characteristic in common, often sharing local governance, resources, and interests.

Government-operated Firm

is a business entity controlled or owned by the government to provide goods or services to the public.

Residual Claimants

Individuals or entities that have a claim on the remaining assets of a company after all liabilities have been satisfied, typically the shareholders.