The Unemployment Rate Is Computed as the Number of Unemployed

question 20

Multiple Choice

The unemployment rate is computed as the number of unemployed

• A)divided by the labor force, all times 100.
• B)divided by the number of employed, all times 100.
• C)divided by the adult population, all times 100.
• D)times the labor-force participation rate, all times 100.

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Definitions:

Alternative Hypothesis

A statement in hypothesis testing that proposes a significant difference or effect, contradicting the null hypothesis.

Statistical Evidence

Data and information gathered from statistical analyses that support or reject hypotheses, used to make conclusions or inferences about the characteristics of populations.

P-Value

The probability of obtaining test results at least as extreme as the results observed, assuming that the null hypothesis is correct.

Alpha (α)

In hypothesis testing, the threshold probability for incorrectly rejecting the null hypothesis, representing the level of significance of the test.