Let $N , Q$ , And $U$ Denote, Respectively, the Working Age Population, the Labour Force, and Working

question 36

Multiple Choice

Let $N , Q$ , and $U$ denote, respectively, the working age population, the labour force, and the number of unemployed. The participation rate is defined as

• A) \(\frac { Q } { U }\).
• B) \(\frac { Q } { N }\).
• C) \(\frac { E } { Q }\).
• D) \(\frac { U } { Q }\).
• E) \(\frac { N } { U }\).

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Definitions:

Monthly Profit

The total revenue of a business minus the total expenses for the month, indicating the financial gain.

Variable Cost

Costs that change in proportion to the level of production or business activity, such as materials and labor.

Variable Cost

Costs that vary in direct proportion to changes in levels of production or business activity, such as materials and labor.

Fixed Cost

A cost that does not change with the volume of sales.