If the Number of Employed Workers Equals 200 Million and the Number

question 10

Multiple Choice

If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment rate equals _____ percent (rounded to the nearest percent) .

• A)0
• B)9
• C)11
• D)20

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Definitions:

Resources

A broad term for the assets, materials, and inputs used to produce goods and services, including natural, human, and capital resources.

Variable Cost

A cost that changes in proportion to the level of activity or volume of output in a business.

Wages

Payments made to workers for their labor, usually calculated on an hourly, daily, or piecework basis.

Salaries

Salaries refer to the regular payments made by employers to employees, typically on a monthly or bi-weekly basis, in exchange for their labor or services.