Refer to the Following Table

question 74

Multiple Choice

Refer to the following table. All of the following mathematical calculations are correct.The unemployment rate is approximately

• A) (600/11 000) × 100 = 5.45 per cent.
• B) (600/22 000) × 100 = 2.73 per cent.
• C) (600/10 400) × 100 = 5.77 per cent.
• D) (600/11 600) × 100 = 5.17 per cent.

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Definitions:

Aggregate Supply

Aggregate supply is the total supply of goods and services that firms in a national economy plan to sell during a specific time period, affected by several factors including production costs and labor availability.

Short-Run

A period in economics where at least one input is fixed, usually applied to analyze immediate impacts on the economy.

Money Supply

The full quantification of financial means in an economy at a certain point in time, including tangible currency like coins and notes and virtual balances in checking and savings accounts.

Interest Rates

The percentage of a sum of money charged for its use, influencing investment and consumption in the economy.