In 2014 in Japan,based on Concepts Similar to Those Used

question 77

Multiple Choice

In 2014 in Japan,based on concepts similar to those used to compute Canadian employment statistics,the unemployment rate was about 3.4 percent,the labour force participation rate was about 59 percent,and the adult population was about 127 million.How many people were employed?

• A) about 52 million
• B) about 64 million
• C) about 72 million
• D) about 103 million

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Definitions:

Marginal Revenue

The additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a product or service.

Output

The total amount of goods and services produced by an economic system, company, or sector within a certain period.

Marginal Cost

The cost incurred by producing one additional unit of a good or service, which varies depending on the level of production.