Table 9-1 Consider the Data Above for a Simple Economy

question 113

Multiple Choice

Table 9-1
Consider the data above for a simple economy.
-Refer to Table 9-1.The unemployment rate for this simple economy equals

• A)(100/1,000)× 100.
• B)(100/1,100)× 100.
• C)(100/15,000)× 100.
• D)(100/20,000)× 100.

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Definitions:

Manufacturing Business

A company engaged in the processing of raw materials into finished products through the use of labor, machinery, and equipment.

Hospital

A medical facility that offers patient care through specialized healthcare professionals and advanced medical machinery.

Service Business

A type of business that provides intangible products or services to consumers, as opposed to selling physical goods.

Proprietorship

A proprietorship, also known as a sole proprietorship, is a business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.