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:

Income

The financial gain earned by an individual or business, typically measured on an annual basis, coming from work, investments, or other sources.

APC

Average Propensity to Consume, which is the fraction of income that a person or economy spends rather than saving.

APS

The Average Propensity to Save, which is the proportion of total income that households plan to save rather than spend on consumption.

APS

Usually refers to Average Propensity to Save, an economic term that denotes the proportion of income that a person or population saves rather than spends on consumption.