Mike Has Been Unemployed for Over a Year

question 1

Multiple Choice

Mike has been unemployed for over a year.He hasn't looked for a job in the last three months,but he's just started looking for work again.Because Mike started looking for a new job

• A)the unemployment rate increased.
• B)the labor force participation rate decreased.
• C)the unemployment rate decreased.
• D)the working-age population increased.

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Definitions:

Utility Functions

Models used to quantify the satisfaction or utility a consumer derives from consuming various bundles of goods and services.

Consumption

The process or activity of using goods and services to satisfy wants or needs.

Cream

The fatty part of milk, gathered at the top, used in cooking or as a spread.

Strawberries

A sweet, soft, red fruit with a seed-studded surface, commonly consumed fresh, in preserves, or as part of various dishes and desserts.