In a Country with a Working-Age Population of 22 Million

question 68

Multiple Choice

In a country with a working-age population of 22 million, 16 million are employed, 2 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The involuntary part-time rate is

• A)6.3 percent.
• B)12.5 percent.
• C)2.8 percent.
• D)5 percent.
• E)0.5 percent.

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Definitions:

Premium

A sum paid periodically to the insurer by the insured for covering their risk.

Potential Loss

A hypothetical amount of money that a business or individual could lose in the future due to risks.

Risk

The potential for losing something of value or for an undesirable outcome, often assessed in decisions involving finance, safety, and health.

Known Factors

Elements or conditions that are clearly understood or recognized in a given context or analysis.