Which of the Following Persons Is Considered Part of the Labor

question 227

Multiple Choice

Which of the following persons is considered part of the labor force?

• A) Joe, a senior in high school who works part-time on weekends at the ice cream shop
• B) Mary, who works as a librarian in prison because she poisoned her cheating boyfriend
• C) Jamal, who just graduated from college and is backpacking in Europe for six months
• D) Tessa, an 8-year-old who sells lemonade on the sidewalk for 50 cents a glass

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Definitions:

Payback Period

The length of time it takes for an investment to generate cash flows sufficient to recover its initial cost, often used to evaluate the profitability of an investment.

Time Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Payback Period

The length of time required for an investment to recover its initial outlay in terms of profits or savings.

Useful Life

The estimated duration for which an asset is expected to be functional and useful before it needs to be replaced or repaired.