The Unemployment Rate Measures The

question 122

Multiple Choice

The unemployment rate measures the:

• A)number of people in the labor force divided by the adult population.
• B)percentage of people in the labor force who are unemployed.
• C)percentage of people in an economy who have dropped out of the labor force.
• D)number of people in the adult population who are looking for work.
• E)number of people in the labor force who are not working.

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Definitions:

Factor's Price

The cost of utilizing factors of production like labor, land, and capital in the process of manufacturing.

Factor's Marginal Product

The additional output that results from the use of one more unit of a production factor, holding other factors constant.

Factor Of Production

An input used in the production of goods or services, including labor, capital, land, and entrepreneurship.

Complements

Goods or services that are used together such that an increase in the price of one causes a decrease in the demand for the other, like coffee and sugar.