Nicole Has Just Finished High School and Started Looking for Her

question 24

Multiple Choice

Nicole has just finished high school and started looking for her first job, but has not yet found one. As a result, the unemployment rate

• A) increases, and the labor-force participation rate is unaffected.
• B) increases, and the labor-force participation rate increases.
• C) is unaffected, and the labor-force participation rate increases.
• D) increases, and the labor-force participation rate decreases.

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Definitions:

Product Liability

Pertains to the legal responsibility of manufacturers, wholesalers, or retailers for injuries caused by defects or dangers in products they make available to consumers.

Unconscionability

A legal doctrine that refers to terms in a contract that are extremely unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Assumption of Risk

A legal doctrine where an individual knowingly exposes themselves to danger and assumes responsibility for any resulting injuries or damages.

Product Misuse

The incorrect, inappropriate, or unintended use of a product, which can lead to injury or failure to meet the user's needs.