The Labor Force Is the Sum of the

question 39

Multiple Choice

The labor force is the sum of the

• A) working-age population and the number of unemployed people.
• B) number of employed people and the working-age population.
• C) number of employed people and the number of unemployed people.
• D) total population and the number of unemployed people.

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Definitions:

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Depreciable Asset

An asset that loses value over time due to usage, wear and tear, or obsolescence, which can be an expense on the income statement over its useful life.

Fixed Asset

A long-term tangible piece of property or equipment that a firm owns and uses in its operations to generate income.

Intangible

Assets that lack physical substance but hold value for a firm, such as patents, trademarks, and goodwill.