Exhibit 12-2 Unemployment Categories Consider an Economy Made Up of 100 People, 50 of |

question 77

Multiple Choice

Exhibit 12-2 Unemployment categories $$\begin{array} { | l | c | } \hline \text { Category } & \begin{array} { c } \text { \# of } \\\text { Individuals }\end{array} \\\hline \text { Frictional unemployment } & 20 \\\text { Structural unemployment } & 35 \\\text { Cyclical unemployment } & 60 \\\text { Discouraged workers } & 5 \\\text { Underemployed workers } & 10 \\\text { Fully employed workers } & 410 \\\text { Population } & 900 \\\hline\end{array}$$ Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately:

• A) 10 percent.
• B) 12 percent.
• C) 17 percent.
• D) 20 percent.

Understand how the actions and beliefs of parents or significant others can influence children’s behavior and attitudes.

Recognize the role of observational learning in developing empathy and theory of mind.

Understand the concept of observational learning and its significance in human behavior.

Recognize the influence of television and media on behavior through modeling.

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Definitions:

Wage Rate

The amount of money paid to a worker per unit of time, usually expressed per hour or year.

Wage Rate

The amount of money paid to an employee per unit of time worked, often expressed on an hourly basis.

Marginal Physical Product

The additional output that is produced by adding one more unit of a specific input, keeping all other inputs constant.

Total Revenue Product

The total revenue generated by a firm from selling its product, given by the quantity sold times the selling price.