Suppose There Are Currently 100 People Unemployed, 1,500 People Employed

question 362

Multiple Choice

Suppose there are currently 100 people unemployed, 1,500 people employed, 1,600 people in the labor force, and 2,000 people in the working age population. The unemployment rate equals 100 times

• A) 100/1,500.
• B) 100/1,600.
• C) 100/2,000.
• D) 1,500/2,000.

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Definitions:

Flexible Manufacturing Systems

An approach to manufacturing that allows for the easy adaptation of production processes to changes in product type and quantity.

Flexibility

The ability to adapt or change according to different circumstances, requirements, or conditions, often considered a vital asset in both personal and organizational contexts.

Efficiency

The measure of how effectively resources are used to achieve a goal or outcome, with minimal waste of time, effort, and cost.

Flexible Manufacturing Systems

Advanced production systems that allow for the efficient production of small to medium batch sizes with a high degree of customization.