The Table Contains Information About the Hypothetical Economy of Scoob

question 192

Multiple Choice

$$\begin{array} { | l | r | } \hline \text { Unemployed } & 7 \\\hline \text { Total Population } & 145 \\\hline \text { Employed } & 95 \\\hline \text { Discouraged Workers } & 3 \\\hline\end{array}$$ The table contains information about the hypothetical economy of Scoob. All ?gures are in millions. The labor force in Scoob is

• A) 95 million.
• B) 102 million.
• C) 105 million.
• D) 145 million.

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Definitions:

Depreciation Expense

The allocation of a tangible asset's cost over its useful life to account for declines in value over time.

Salvage Value

The anticipated recovery value of an asset when it no longer has usable life.

Straight-Line Method

A method of calculating depreciation by evenly allocating the cost of an asset minus its salvage value over its estimated useful life.

Office Furniture

Items and fixtures used in an office setting for the purpose of work, including desks, chairs, and file cabinets.