Which of the Following Individuals Would Be Considered Unemployed

question 61

Multiple Choice

Which of the following individuals would be considered unemployed?

• A)an individual who works only part-time
• B)an individual who works full-time in a family business, but is not paid
• C)an individual who is not working and is not looking for work
• D)all of the above
• E) none of the above

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Definitions:

Average Variable Cost

The total variable costs (costs that change with output level) divided by the quantity of output produced.

AVC

Average Variable Cost; the cost of variable inputs divided by the quantity of output produced.

AFC

Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.

MC

Marginal Cost, the change in total cost that arises when the quantity produced is incremented by one unit.