If the Rate of Unemployment Is 10% and the Labour

question 181

Multiple Choice

If the rate of unemployment is 10% and the labour force is 130 million,the number of unemployed workers is _____million.

• A) 1.3
• B) 13
• C) 10
• D) 8

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Definitions:

Too-Big-To-Fail

A concept suggesting that certain corporations or institutions are so large and interconnected that their failure would be disastrous to the broader economy, often leading to government intervention.

Bank Panics

Occur when a large number of customers withdraw their deposits simultaneously, fearing the bank's insolvency.

Continental Illinois

A notable example of a major bank failure, occurred in the 1980s, which led to significant reforms in banking regulations.

Overdraft Privileges

A banking service that allows a customer to withdraw more money than they have in their account, usually for a fee.