The Excel Frequency Bar Graph Below Describes the Employment Status

question 46

Multiple Choice

The Excel frequency bar graph below describes the employment status of a random sample of U.S. adults.What is the percentage of those having no job?

• A) 15%
• B) 20%
• C) 40%
• D) cannot determine

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Definitions:

Unemployment Rate

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

Stagflation

Stagflation is an economic condition characterized by slow economic growth, high unemployment, and high inflation, presenting a challenging scenario for policy response.

Phillips Curve

An economic theory describing an inverse relationship between rates of unemployment and corresponding rates of inflation, indicating trade-offs between policy objectives.

Short-run

A period in economics where at least one input is fixed and cannot be changed.