If People Who Have Been Looking for Work Give Up

question 89

Multiple Choice

If people who have been looking for work give up actively looking for work, ceteris paribus, the:

• A)unemployment rate increases.
• B)labour force participation rate increases.
• C)unemployment rate decreases.
• D)working-age population decreases.

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Definitions:

Machine-Hours

A measure of production time, representing the number of hours a machine is operated in the production of goods.

Job-Order Costing System

A costing method that assigns costs to specific batches or job orders, making it suitable for customized products.

Predetermined Overhead Rate

An estimated rate used to assign manufacturing overhead costs to products based on a cost driver, calculated before the period begins.

Variable Manufacturing Overhead

Overhead costs that vary with production volume, including indirect labor and utilities.