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Sample Population -Refer to Sample Population

question 79

Multiple Choice

Sample Population
$\begin{array}{|l|l|}\hline \text { Person } & \text { Status } \\\hline \text { Allen } & \text { Unpaid stay at home dad. Has not looked for a job in several years. } \\\hline \text { Ben } & \text { College president. } \\\hline \text { Allison } & \text { Part-time welder. Actively looking for full time work. } \\\hline \text { Brittany } & \text { Self-employed full-time wedding singer. } \\\hline \text { Cathy } & \text { Full-time physician's assistant. } \\\hline \text { Calvin } & \text { Retired finance professor. Last applied for work } 10 \text { weeks ago. } \\\hline \text { Diane } & \text { Laid-off fork-lift operator expecting to be recalled. } \\\hline \text { David } & \text { Works for a bicycle store. Age 70. } \\\hline \text { Evelyn } & \text { Manager of health food store. } \\\hline \text { Eli } & \text { Museum guard. Was not at work last week due to ilness. } \\\hline \text { Flora } & \text { Has never been employed. Looked for a job last week. } \\\hline \text { Frank } & \text { Fired from job as an investment banker. Last looked for work three weeks ago. } \\\hline\end{array}$

-Refer to Sample Population. How many in the sample are in the labor force?

Definitions:

Accounts Payable

Liabilities or amounts owed by a business to its creditors or suppliers for goods or services that have been received but not yet paid for.

T Account

The simplest form of an account, which consists of an account title, a debit side, and a credit side.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side in accounting records.

Credit

Credit refers to the trust which allows one party to provide resources (money, goods, services) to another party wherein the second party does not reimburse the first party immediately but promises to return or repay those resources (with or without interest) at a later date.