-Using the Information in the Table Above, Calculate the Employment

question 120

Multiple Choice

$$\begin{array} { | l | c | } \hline { \text { Component } } & \begin{array} { l } \text { Number of } \\\text { people }\end{array} \\\hline \text { Total population } & 2600 \\\hline \text { Working-age population } & 2000 \\\hline \text { Not in labor force } & 500 \\\hline \text { Employed } & 1300 \\\hline\end{array}$$
-Using the information in the table above, calculate the employment -to-population ratio.

• A) 23.2 percent
• B) 50 percent
• C) 75 percent
• D) 65 percent

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Definitions:

Interest Payments

Payments made to lenders as compensation for borrowing money, typically calculated as a percentage of the loan amount.

Market Failure

A scenario in which the distribution of goods and services through a free market fails to be efficient, frequently resulting in a decrease in net social welfare.

Negative Externalities

Costs experienced by someone who is not directly involved in the production or consumption of a good or service.

Positive Externalities

Benefits experienced by third parties or society at large as a result of an economic activity, without the third party incurring any cost.