Table 2The Figures in the Table Below Are Taken from the the Statistics

question 6

Multiple Choice

Table 2.The figures in the table below are taken from the statistics office in a fictional country called Exland.
$\begin{array}{llcc} \text {Number of workers employed} &8,400\\ \text {Frictional unemployment} &250\\ \text {Structural unemployment} &350\\ \text {Cyclical unemployment} &600\\ \text {Discouraged workers} &400\\ \text {Adult population} &12,000\\\end{array}$

-Refer to Table 2.What is the unemployment rate in Exland?

• A)12.5 per cent.
• B)15 per cent.
• C)16 per cent.
• D)24 per cent.

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Definitions:

Price Change

An alteration in the amount charged for a good or service, which can be due to various factors including cost fluctuations, demand shifts, or competitive strategies.

Lost Profits

Lost profits refer to the income that a business could have earned but was unable to due to disruptions, such as competition or natural disasters.

Expected Success

The anticipation of achieving a favorable outcome in any given venture or activity, often quantified based on objective criteria or previous performances.

Representativeness

A cognitive bias in decision-making where an individual assesses the likelihood of an event by comparing it to an existing prototype in their mind.