A Person 16 Years or Older Who Does Not Work

question 109

Multiple Choice

A person 16 years or older who does not work, but is actively looking for work, is officially classified as:

• A)employed.
• B)unemployed.
• C)chronically unemployed.
• D)out of the labor force.

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Definitions:

Fixed Costs

Costs that do not vary with the level of output or sales, such as rent, salaries, and insurance.

Variable Costs

Expenses that vary directly with the level of production or output, including costs such as raw materials and labor directly involved in manufacturing.

Price Changes

Alterations in the cost of goods or services over time, which can be influenced by factors such as supply and demand.

Agricultural Act

Legislation that regulates agricultural production, marketing, and subsidies.