Use the Data to Find the Required Rate

question 8

Multiple Choice

Use the data to find the required rate. Round your answer to thousandths unless indicated otherwise.
-An insurance company reported that last year there were claims for medical expenses for 2629 on-the-job injuries. The company covers 329,507 employees. Find the rate of on-the-job injuries per 1000 employees. Round your answer to hundredths.

• A)7.98 injuries per1000 employees
• B)0.008 injury per 1000 employees.
• C)0.13 injury per 1000 employees,
• D)2.629 injuries per 1000 employees.

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Definitions:

Aggregate Income

The total income earned by all factors of production in an economy, including wages, rents, interest, and profits.

Aggregate Consumption

The total amount of goods and services consumed in an economy, often used to analyze economic health and growth.

Consumption Function

A concept in economics that calculates the expected total consumption of goods and services by individuals at different income levels.

Aggregate Income

The total amount of income generated by all individuals and entities in an economy over a specific period.