In a Country with a Working- Age Population of 30

question 14

Multiple Choice

In a country with a working- age population of 30 million, 18 million are employed, 2 million are unemployed, and 2 million of the employed are working part- time, half of whom wish to work full- time.If 1 million of the unemployed are cyclically unemployed, what is the natural unemployment rate?

• A)6.7 percent
• B)5 percent
• C)5.6 percent
• D)1 percent
• E)11.1 percent

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Definitions:

Merchandising Entity

A business that purchases finished goods for resale, making a profit on the difference between buying and selling prices.

Intangible Outputs

Non-physical results produced by an organization, such as customer satisfaction, brand reputation, or intellectual property.

Service Organisations

Entities that primarily provide intangible products or services to customers rather than physical goods.

Merchandisers

Businesses that purchase goods for resale at a profit, dealing primarily in finished goods rather than services or production.