Data for an Economy Shows That the Unemployment Rate Is

question 34

Multiple Choice

Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force.How many people are in the labor force in this economy?

• A)80 million
• B)200 million
• C)800 million
• D)1.0 billion

---

Definitions:

Disclosed Principal

A disclosed principal is a party whose identity is known by all involved parties at the time a transaction is entered into with an agent.

Undisclosed Principal

is a party in a contractual agreement whose existence and identity are not revealed to the third party at the time of contract formation, often in agency relationships.

Express Authorization

Directly stated or clearly indicated authority given for an action or procedure.

Principal's Intention

In a contractual agreement, it refers to the primary party's goal or objective intended through the contract.