The Labor Force Participation Rate Is the Number of People

question 83

Multiple Choice

The labor force participation rate is the number of people in the labor force divided by the number of people in the country who are of working age and not institutionalized. The BLS reported in February 2012 that the labor force participation rate in the United States was 63.7% (Calculatedrisk.com) . A marketing company asks 120 working-age people if they either have a job or are looking for a job, or, in other words, whether they are in the labor force. What is the probability that fewer than 60% of those surveyed are members of the labor force?

• A) 0.1996
• B) 0.7995
• C) 0.8400
• D) 0.9706

Grasp the principles of recognizing and accounting for notes receivable, including calculating interest and handling dishonored notes.

Master the calculation and interpretation of the accounts receivable turnover ratio and its impact on assessing financial condition.

Know the options available for a company to convert its receivables into cash.

Understand the allowance method of accounting for bad debts and its impact on financial statements.

---

Definitions:

Hungarian Uprising

A 1956 revolt against the Soviet-imposed policies by the people of Hungary, leading to significant violence and suppression by Soviet forces.

Propaganda Points

Information, often of a biased or misleading nature, used to promote or publicize a particular political cause or point of view.

Cuban Revolution

A significant political movement that led to the overthrow of Cuban dictator Fulgencio Batista in 1959 and the establishment of a socialist state led by Fidel Castro.

Noncommunist Government

A governmental system which does not adhere to the principles of communism, characterized by private or mixed ownership of means of production, and typically operates under democratic or authoritarian regimes.