If the Number of People Unemployed Is 100, the Number

question 48

Multiple Choice

If the number of people unemployed is 100, the number of people employed is 1000, and the working- age population is 1400, then the labour force participation rate is

• A)66.6 per cent.
• B)64.3 per cent.
• C)78.6 per cent.
• D)71.4 per cent.

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Definitions:

Fixed Costs

Expenses that do not change in total regardless of the level of production or sales activity, such as rent or salaries.

Variable Costs

Costs that vary directly with the level of production or sales volume.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs.