The Number of Unemployed Divided by the Labor Force Equals

question 26

Multiple Choice

The number of unemployed divided by the labor force equals

• A)the inflation rate.
• B)the labor force participation rate.
• C)the unemployment rate.
• D)the misery index.

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Definitions:

Short-run Marginal Cost

The cost incurred by producing one additional unit of a product or service in the short term, where some factors of production are fixed.

Envelope

In economics, often describes a theoretical outer limit or boundary, such as the envelope curve which envelopes all the possible positions of equilibrium.

Short-run Expansion Path

The route a firm takes to increase output by optimizing the combination of inputs used, given at least one fixed input, over a short period.

Variable Input

A production input whose quantity can be changed in the short term to influence output.