-On December 31, 2008, on a Remote Northern Island There

question 112

Multiple Choice

$$\begin{array}{l}\text { Labor Market Flows }\\\begin{array} { l c } \quad \text { During 2009 } & \text { Number of People } \\\hline \text { Hires and recalls } & 1,000 \\\text { Job losers } & 500 \\\text { Job leavers } & 300 \\\text { Entrants } & 200 \\\text { Reentrants } & 300 \\\text { Withdraw als } & 300\end{array}\end{array}$$
-On December 31, 2008, on a remote northern island there were 18,000 people employed, 2,000 people unemployed, and 5,000 people not in the labor force.The table above gives information taken from a labor survey on this island.The unemployment rate between December 2008 and December 2009

• A) increases.
• B) decreases.
• C) increases then decreases.
• D) does not change.
• E) cannot be calculated without information about the working-age population.

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Definitions:

Credit Sale

Transactions where goods or services are sold and payment is received at a later date.

Monthly Interest Rate

The interest rate applied to a loan or credit balance on a monthly basis.

Variable Cost

Expenses that vary in relation to the amount of product or service generated by a company.

Sales Price

The final amount of money charged for a product or service, or the value that consumers are willing to pay.