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Suppose the working-age population is 150 million, the labor force is 125 million, and employment is 120 million.
a) What is the unemployment rate?
b) Now suppose that 2 million students graduate from college and begin to look for jobs. What is the new unemployment rate if none of the students have found jobs yet?
c) Suppose that all 2 million students find jobs. What is the unemployment rate now?
Selling Price
The amount of money charged for a product or service, or the sum for which something is sold.
Margin of Safety
The difference between actual sales and the break-even point, indicating how much sales can fall before a business incurs a loss.
Fixed Expenses
Costs that do not vary with the level of production or sales, remaining constant over a period of time.
Variable Expenses
Charges that adjust directly with the volume of production or sales, encompassing costs related to raw materials and direct labor.
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