In February 2012, the Bureau of Labor Statistics Calculated the Unemployment

question 112

Multiple Choice

In February 2012, the Bureau of Labor Statistics calculated the unemployment rate to be 8.3%. If frictional unemployment was 2% and structural unemployment was 3.2%, then cyclical unemployment was _____%.

• A) 2.5
• B) 3.1
• C) 12.5
• D) 5.5

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Definitions:

Proprietorship

A business structure owned by a single individual, where the owner is personally responsible for the business's debts and liabilities.

Withdrawal

Removing funds from an account, or the act of taking money out from a partnership or investment, often referring to the distribution of assets to owners or partners.

Unearned Revenue

Money received by an individual or company for a service or product yet to be provided or delivered.

Drawing

Withdrawals of cash or other assets from a business by the owner for personal use, affecting the owner's equity.