If the Number of People Employed Is 150,000 and the Labor

question 119

Multiple Choice

If the number of people employed is 150,000 and the labor force is 170,000, the unemployment rate is

• A) 2.5%.
• B) 6.25%.
• C) 6.55%.
• D) 11.76%.

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Definitions:

Deferred Revenue

Deferred Revenue is income a company has received for goods or services that have yet to be delivered or performed, recorded as a liability on the balance sheet.

Service Revenue

Income earned by a company through providing services as opposed to selling physical goods.

Salaries Payable

An account that records the amount owed to employees for work performed but not yet paid.

Payroll

The total amount paid to employees for services they provided during a certain period of time.