Suppose There Are 10 Million Part-Time Workers and 90 Million

question 124

Multiple Choice

Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result,

• A) the official unemployment rate will fall.
• B) the official unemployment rate will rise.
• C) the official unemployment rate will remain unchanged.
• D) the size of the labor force will increase.

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Definitions:

Credit To

An accounting entry that increases the balance of liabilities, equity, or revenue accounts, or decreases the balance of assets or expense accounts.

Authorized Stock

Authorized Stock refers to the maximum number of shares a corporation is legally allowed to issue, as specified in its articles of incorporation.

Formal Accounting Entry

A documented record in accounting that notes all the details of a financial transaction within an organization’s financial system.

Bylaws

The set of rules or guidelines that govern the internal management and regulations of an organization or corporation.