If There Are 100 Million People in the Total Population

question 105

Multiple Choice

If there are 100 million people in the total population, a labor force of 50 million, and 47 million employed workers, the unemployment rate is _____%.

• A) 3
• B) 6
• C) 8
• D) 10

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Definitions:

Bad Debt Reserve

An account set aside by a business to cover unpaid debts that are unlikely to be recovered.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Deductions

Items of expenditure that the tax code allows taxpayers to deduct from income to arrive at taxable income.

Taxable Income

The portion of an individual's or company's income used as a base to calculate the amount of tax owed to the government.