A Person Who Is Counted as Unemployed by the BLS

question 32

Multiple Choice

A person who is counted as unemployed by the BLS is

• A)also in the labor force.
• B)must have recently looked for work or be on temporary layoff.
• C)be age 16 or over.
• D)All of the above are correct.

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Definitions:

Profit

The financial gain achieved when the amount earned from selling goods or services exceeds the costs associated with production or procurement.

Speeding Ticket

A penalty issued by law enforcement to drivers exceeding the legal speed limit.

Revenue Per Mile

A financial metric often used in transportation and delivery industries to measure the amount of income generated per mile of operation.

Profit Maximization

The technique used by firms to pinpoint the price and amount of production that results in the largest profit.