Suppose That There Are 1 Million Part-Time Workers and 9

question 47

Multiple Choice

Suppose that there are 1 million part-time workers and 9 million full-time workers in an economy.Then 500,000 of the part-time workers switch to full-time work.We can conclude that the:

• A)official unemployment rate will fall
• B)official unemployment rate will rise
• C)official unemployment rate will remain unchanged
• D)size of the labour force will increase
• E)size of the labour force will decrease

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Definitions:

Relevant Range

The range of activity within which the assumptions about cost behavior hold true for a specific operation or business.

Merchandising Company

A company that purchases goods in a finished state for the purpose of reselling them without further manufacturing.

Cost Structure

Cost structure denotes the various types of expenses a business incurs and is typically categorized into fixed and variable costs, influencing pricing and profitability.

Driver's Side Air Bag

A safety device installed in vehicles to reduce the risk of injury to the driver in the event of a collision by rapidly inflating upon impact.