A Survey Reveals That, on a Small Island, Initially 1,000

question 178

Multiple Choice

A survey reveals that, on a small island, initially 1,000 people have jobs, 250 people are not working but are looking for jobs, and 450 people are neither working nor looking for work. Suppose that 150 of the 450 people who weren't looking for work now begin looking for work. There are now 400 people looking for work and 1,000 people working. The unemployment rate:

• A) falls to 20%.
• B) rises to 28.6%.
• C) rises to 50%.
• D) Nothing happens to the unemployment rate because these people weren't working before and they aren't working now.

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Definitions:

Nominal Variables

Variables that represent categories without a natural order or ranking among them.

All-Nighters

Extended study or work sessions that go through the night, usually in an effort to meet deadlines or prepare for exams.

Midterm

An examination or assessment occurring in the middle of an academic term or period.

Percentage

A percentage is a fraction or ratio expressed as a part of 100, commonly used to quantify or compare parts of a whole.