The Unemployment Rate Is Found by Dividing the Number of Unemployed

question 283

Multiple Choice

The unemployment rate is found by dividing the number of unemployed people by the

• A) number of working individuals, and multiplying by 100.
• B) number of the working-age population, and multiplying by 100.
• C) sum of working individuals plus unemployed workers, and multiplying by 100.
• D) number in the labor force, and dividing by 100.

---

Definitions:

LIFO Liquidation

The process of reducing inventory that has been accounted for using the Last-In, First-Out method, potentially affecting cost of goods sold and taxes.

FIFO

FIFO, or First-In, First-Out, is an inventory valuation method where goods first bought are the first to be sold, affecting cost of goods sold and inventory valuation on the balance sheet.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

FIFO

First-In, First-Out, an inventory valuation method where goods purchased or produced first are sold, used, or disposed of first.