Use the Following to Answer Questions

question 229

Multiple Choice

Use the following to answer questions :
Scenario: Employment in Xenia
Xenia has 10,000 people. Of this population, 1,000 residents are below age 16, and 2,000 have given up looking for work. Currently, 500 people are unemployed but are actively looking for work; 2,500 work part-time, and the rest are fully employed.
-(Scenario: Employment in Xenia) Look at the scenario Employment in Xenia. What is the unemployment rate?

• A)7.14%
• B)4.25%
• C)11.11%
• D)2%

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Definitions:

Statute of Frauds

A legal concept requiring certain types of contracts to be executed in writing and signed by all parties involved, in order to be enforceable.

Parol Evidence Rule

A legal principle that prevents parties from presenting extrinsic evidence that contradicts or adds to the terms of a written contract.

Merger Clause

A provision in a contract stating that the written agreement supersedes all prior or oral agreements, focusing on the primacy of the current document.

Parol Evidence Rule

A legal principle that prevents parties in a written contract dispute from introducing oral or extrinsic evidence to modify the original agreement.