A New Entrant Is an Individual

question 11

Multiple Choice

A new entrant is an individual

• A) in the labor force whose employment was involuntarily terminated.
• B) who used to work full time but left the labor force and has now reentered it looking for a job.
• C) in the labor force who quits voluntarily.
• D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.

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Definitions:

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing one option over another.

Outlay Cost

Expenses directly associated with the production of goods or services, such as materials and labor.

Variable Selling Costs

Expenses that change in proportion to the volume of sales, such as commissions and shipping costs.

Sales Forecasts

Projections of future sales revenue, based on market analysis, historical data, and other estimations.