If People Cannot Find Work and Drop Out of the Labor

question 110

Multiple Choice

If people cannot find work and drop out of the labor force,they are classified as

• A)employed.
• B)unemployed.
• C)as part of the institutionalized population.
• D)discouraged workers.
• E)functionally unemployed.

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Definitions:

Short-run Cost Function

A mathematical relation that shows the total cost associated with producing a good or service, emphasizing the costs that vary with the level of output in the short term.

Productivity Factor

An indicator of the efficiency with which inputs are converted into outputs in the production process.

Production Technique

The methods and processes used by businesses to manufacture goods or provide services.

Short-run Cost Function

A representation of the total cost associated with production, considering some inputs are fixed.