If a Significant Number of Part-Time Workers Successfully Find Full-Time

question 53

Multiple Choice

If a significant number of part-time workers successfully find full-time employment, then

• A) the unemployment rate will fall.
• B) the labour force participation rate will increase.
• C) the unemployment rate will remain unchanged.
• D) the unemployment rate will rise.
• E) Both answers A and B are correct.

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Definitions:

Profits

The financial gain realized when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain those activities.

Output

The quantity of goods or services produced by a business, industry, or economy within a specific period.

Shutting Down

A short-run decision by a firm to cease production temporarily due to unfavorable market conditions.

Long Run

A period in economics where all factors of production and costs are variable, allowing for full adjustment to changes.