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:

Payor Bank

The bank that is directed by a check or draft to pay a certain amount of money to the person or entity named on the check.

On-Us Item

A banking term referring to a check or draft that is presented for payment by the same bank upon which it is drawn.

Stale Check

A check that is not presented to a bank within six months of its date.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law relating to commerce.