The Unemployment Rate Is the Number of Unemployed People

question 29

Multiple Choice

The unemployment rate is the number of unemployed people

• A) divided by the number of people who are working.
• B) divided by the total working-age population.
• C) divided by the sum of the number of people who are working and the number of people who are looking for work.
• D) and the number of people working fewer than their desired number of hours, divided by the number of people who are working or looking for work.

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Definitions:

Objective Function

A mathematical expression representing the goal of an optimization problem, typically to maximize or minimize certain values.

Profit

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Objective Function

A mathematical function used in decision-making, optimization, or problem-solving that specifies the objective to be maximized or minimized.

Maximize Contribution

A financial strategy or goal to increase the difference between total sales and total variable costs to maximize the profit contributed towards fixed costs and earnings.