If the Number of Unemployed Workers Is 1

question 122

Multiple Choice

If the number of unemployed workers is 1.9 million, the number in the working-age population is 50 million, and the unemployment rate is 4%, how many workers are in the labour force?

• A)1 million
• B)20 million
• C)47.5 million
• D)48.1 million
• E)50 million

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Definitions:

Effective Interest Method

An accounting technique used to allocate the interest expense of a bond evenly over its life, based on the bond's carrying value.

Premium Bond

A bond sold for more than its face value, where the bond's coupon rate is higher than the prevailing market rate of interest.

Interest Expense

The cost incurred by an entity for borrowed funds, typically reported on the income statement.

Compounded Annually

Interest on an investment or loan that is calculated once a year, adding to the principal sum for the next year.