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

question 53

Multiple Choice

Suppose that a country's population is 30 million and it has a labour force of 15 million people.If 14.5 million people are employed,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:

Net Operating Income

A company's operating profit after subtracting operating expenses but before interest and taxes.

Absorption Costing

is an accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the cost of a product.

Fixed Manufacturing Overhead

The set costs involved in the production process that do not change with the level of output, such as salaries and building leases.

Inventories

Items such as products, materials, and supplies held by a company for the purpose of resale or production.