The Number of Unemployed Divided by the Labor Force Equals

question 91

Multiple Choice

The number of unemployed divided by the labor force equals the:

• A)labor-force participation rate.
• B)employment rate.
• C)unemployment rate.
• D)duration rate.

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Definitions:

Short Run

A period in economics during which at least one factor of production is fixed, influencing decisions on production and costs.

Minimum Price

The lowest price at which a product or service can be sold, often set by law or regulation to protect producers or prevent unfair competition.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain for a business.

Shutdown Point

The level of output and price at which a company's revenue just covers its variable costs, below which the company would lose more money if it continued to operate.