An Article in the Financial Times Reports on a Trend

question 13

Multiple Choice

An article in the Financial Times reports on a trend by college students to take a year off after graduation given the lack of success in finding a job. ʺIn a survey published last month by TMP Worldwide... 54 per cent of the final-year undergraduate interviewees were thinking about taking a gap year and one in 10 was planning to wait for a year to escape the financial chaos and wait for the economy to either improve or for the picture to become clearer.ʺ
These choices add to the fluctuations seen in the as workers leave the labor force given their unsuccessful job searches.

• A) efficiency wage
• B) employment rate
• C) labor force participation rate
• D) inflation rate

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Definitions:

Sampling Distribution

The probabilistic distribution specific to a statistic, based on randomly collected data.

Sampling Distribution

A statistical distribution that represents the frequency of various outcomes in a set of samples drawn from a larger population.

Standard Deviation

A measurement of the dispersion or variation of a set of values, indicating how much the values deviate from the mean of the set.

Sampling Distribution

The pattern of likelihood for a particular statistic that originates from a random sample.