How Is Canada's Unemployment Rate Determined

question 108

Multiple Choice

How is Canada's unemployment rate determined?

• A)The rate is determined by Canada Census data.
• B)The rate is determined by a survey of Canadian employers.
• C)The federal government department HRSDC (Human Resources and Skills Development Canada)conducts a monthly survey of the labour force.
• D)Statistics Canada conducts a Labour Force Survey each month.
• E)An estimate is produced by HRSDC based on the previous month's unemployment rate adjusted by the current month's job losses and job gains.

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Definitions:

Fixed Expenses

Costs that do not vary with the level of production or sales, such as rent, insurance, and salaries.

Variable Expenses

Expenses that change in proportion to the activity of a business, such as sales commissions that rise with increased sales or materials costs that rise with increased production.

Discontinue Product

The decision to stop manufacturing, selling, or supporting a product based on criteria such as sales performance, profitability, or strategic alignment.

Open Market

A market with few restrictions on buy-sell transactions, allowing for free competition and prices dictated by supply and demand.