Use the Following to Answer Questions

question 289

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. Suppose some of those who had given up looking for work start looking again. The unemployment rate will:

• A)increase.
• B)decrease.
• C)not be affected.
• D)rise, fall, or stay the same.

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Definitions:

Expenses

The costs incurred by a business in the process of earning revenue, such as costs of goods sold, operating expenses, and taxes.

Debits

Entries that are recorded on the left side of accounting ledgers and journals, representing increases in assets or expenses or decreases in liabilities, equity, and income.

Assets

Resources owned by a company or individual that have economic value and can provide future benefits.

Liabilities

Liabilities refer to financial obligations or debts that a company owes, which are expected to be settled through the transfer of assets, provision of services, or other economic benefits.