The Labor Force Equals the Number of People

question 178

Multiple Choice

The labor force equals the number of people:

• A)employed.
• B)aged 16 years and older.
• C)both employed and unemployed.
• D)employed, unemployed and discouraged.

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Definitions:

Fixed Period Systems

An inventory management strategy where orders are placed at fixed intervals, regardless of the current stock level.

Perpetual Inventory System

A system that keeps track of each withdrawal or addition to inventory continuously, so records are always current.

Buffer Stock

An inventory reserve kept on hand to protect against variability in demand or supply.