Employment Status of the Working Age Population

question 31

Multiple Choice

Employment status of the working age population
of Metropolis is approximately:
Table 12.1
-Given the data in Table 12.1, if the workers who are "not employed and not looking for work" were counted as not employed and in the labor force, the unemployment rate of Metropolis would be approximately

• A) 4 percent.
• B) 7 percent.
• C) 9 percent.
• D) 10 percent.

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Definitions:

Depreciate

A decrease in the value of an asset over time, often due to wear and tear or obsolescence, recognized in accounting to spread the cost of an asset over its useful life.

Canadian Dollar

The official currency of Canada, represented by the symbol CAD or C$.

Absolute Purchasing Power Parity

The theory that, in the absence of transaction costs and other barriers, identical goods in different countries should have the same price when expressed in a common currency.

Transaction Costs

The expenses incurred when buying or selling goods and services, which may include commissions, fees, and the bid-ask spread.