If the Number of Unemployed Workers Is 1

question 201

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%, what is the labour force participation rate?

• A)4.75%
• B)7.8%
• C)63%
• D)95%
• E)96.2%

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Definitions:

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Balance Of Trade

The difference between a country's exports and imports of goods, without including services.

Goods Exports

Refers to the selling and shipment of tangible products from one country to another, contributing to a nation’s gross domestic exports.

Goods Imports

The process of bringing goods from foreign countries into one’s own country for use or sale.