The Next Question(s) Refer to the Following Data

question 53

Multiple Choice

The next question(s) refer to the following data:
Suppose a country using the Australian system of unemployment statistics has 300 million people, of whom 200 million are working age. Of these 200 million, 80 million have jobs. Of the remainder: 40 million are actively searching for jobs; 40 million would like jobs but are not searching; and 40 million do not want jobs at all.
-Refer to the information above. The labour force is:

• A) 120 million.
• B) 80 million.
• C) 200 million.
• D) 40 million.
• E) 160 million.

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Definitions:

Partnership Income

The earnings generated by a partnership that are distributed to its partners according to their agreement.

Income Summary

An account used in the closing process that summarizes the revenues and expenses of an accounting period, to determine the net income or loss.

Ratio Based

A method or analysis that involves the comparison of two or more numbers to evaluate the performance, condition, or relationship of different financial aspects of a business.

Net Income

The net income of a business following the subtraction of all costs and taxes from its total revenue.