Suppose That a Country's Population Is 30 Million and It

question 64

Multiple Choice

Suppose that a country's population is 30 million and it has a labour force of 15 million people.Assuming it has 1.35 million people unemployed,the country's unemployment rate is

• A)2.5%.
• B)3.3%.
• C)4.5%.
• D)6.7%.
• E)9.0%.

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Definitions:

Assets

Resources owned by a business or individual that are expected to provide future economic benefit.

Liabilities

Financial obligations or debts that a company or individual owes to others.

GAAP

Generally Accepted Accounting Principles, a collection of commonly followed accounting rules and standards for financial reporting.

Accounting and Financial Reporting

The process of recording, summarizing, and reporting the financial transactions of a business to provide an accurate picture of its financial position and performance.