In a Country with 20 Million People Aged 15 Years

question 63

Multiple Choice

In a country with 20 million people aged 15 years and older,12 million in the labour force,and 11.4 million employed,what is the participation rate?

• A) 5%.
• B) 57%.
• C) 75%.
• D) 60%.
• E) 95%.

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Definitions:

Demand

A schedule or curve that shows the various amounts of a product that consumers are willing and able to purchase at each of a series of possible prices during a specified period of time.

Consumer Income

The total earnings of a consumer, influencing their purchasing power and ability to buy goods and services.

MU/P

This term represents Marginal Utility per unit of Price, used in economics to calculate the additional satisfaction or utility gained from consuming one more unit of a good relative to its cost.

iPad Computers

Tablet computers designed and marketed by Apple Inc., known for their touch screen interface and wide range of applications for personal and professional use.