Suppose That in the Small Country of Sociopolis There Are

question 145

Multiple Choice

Suppose that in the small country of Sociopolis there are 6 million people in the adult population,that the labor-force participation rate is 70 percent,and that there are 3.8 million people employed.To the nearest tenth,what is the unemployment rate?

• A)10.5%
• B)9.5%
• C)6.7%
• D)None of the above is correct.

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Definitions:

External Reporting

The process of preparing and disclosing financial statements and other information to parties outside the organization.

Statement of Cash Flows

A statement of financial position that displays the influences of adjustments in balance sheet accounts and income on cash and cash equivalents, segmenting the analysis into operating, investing, and financing activities.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific time period, concluding with the net profit or loss.

Operating Activities

Business activities related to daily operations, such as selling goods and services, which affect the cash flow of a company.