Suppose the Working-Age Population Is 220 Million, the Labor Force

question 14

Multiple Choice

Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is

• A) 37 million.
• B) 22 million.
• C) 15 million.
• D) 7 million.

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Definitions:

Unionize

The process by which workers form or join a union to collectively negotiate with their employer over wages, benefits, and working conditions.

Railway Labor Act

A U.S. federal law enacted in 1926 to prevent interruptions to interstate commerce by providing for the settlement of disputes between railroads and their workers.

Government Mediation

The intervention by government agencies or officials to facilitate the resolution of a dispute between parties, typically in labor disputes.

Collective Bargaining

The negotiation process involving management and worker unions aiming to establish agreements on salary scales, conditions of employment, benefits, and other components of labor compensation and rights.