The Unemployment Rate in an Economy Is 6 Percent

question 164

Multiple Choice

The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civilian labor force is 150 million. The number of unemployed workers in
This economy is

• A) 6 million.
• B) 9 million.
• C) 12 million.
• D) 24 million.

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Definitions:

Communication Process

The series of steps through which information is transmitted and received between communicators.

Bargaining Zone

The range within which agreement is possible in negotiations between parties, including the minimum and maximum limits each party is willing to consider.

Reservation Point

The least favorable point at which one will accept a deal during negotiations; it's the bottom line or minimum outcome acceptable.

Culture

A shared set of beliefs, values, and patterns of behaviour common to a group of people.