After Unsuccessfully Looking for Full-Time Work for Six Weeks,Joey Accepted

question 64

Multiple Choice

After unsuccessfully looking for full-time work for six weeks,Joey accepted a part-time job.How does the official unemployment rate fail to reflect the true degree of unemployment in this case?

• A)Joey is viewed to be a discouraged worker and as such is not considered part of the labour force.
• B)It continues to treat Joey as unemployed because he is only employed part-time.
• C)Even though Joey is working less than he wants to work, he is no longer considered unemployed.
• D)Since Joey was out of work for only six weeks, he was never officially considered unemployed.

Analyze market equilibrium and the effects of price changes on supply and demand balance.

Calculate markup percentage in retail pricing.

Determine breakeven points for businesses based on cost and revenue equations.

Compute maximum profit using given expense and revenue functions.

---

Definitions:

Racial-Minority Families

Families that are identified as part of a racial group that makes up a smaller percentage of the total population compared to other racial groups.

Skeptical

Having an attitude of doubt or a disposition to incredulity either in general or toward a particular object.

Self-Fulfilling Prophecy

A prediction or expectation that causes itself to become true, due to the feedback between belief and behavior.

Thomas Theorem

A theory in sociology which states that if people define situations as real, they are real in their consequences, highlighting the significance of perception in social interaction.