Labor Force Statistics by Age -Refer to Labor Force Statistics by Age

question 220

Multiple Choice

Labor Force Statistics by Age.Suppose people in the adult population in a small country are classified based on their age. $$\begin{array} { | l | c | c | } \hline { \text { Lebar Farce Status } } & \text { lets then 55 } & 55 \text { and alder } \\\hline \text { Number enplayed } & 400,000 & 100,000 \\\hline \text { Number unamplayed } & 25,000 & 7,000 \\\hline \text { Numbe in Papulation } & 600,000 & 200,000 \\\hline\end{array}$$
-Refer to Labor Force Statistics by Age. Suppose that the natural rate of unemployment is 5% for those under 55 and 3% for those 55 and older. The cyclical unemployment rate for those under 55 is

• A).88% which is greater than the cyclical unemployment rate for those 55 and older.
• B).88% which is less than the cyclical unemployment rate for those 55 and older.
• C)-.83% which is greater than the cyclical unemployment rate for those 55 and older.
• D)-.83% which is less than the cyclical unemployment rate for those 55 and older.

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Definitions:

Goods and Services

The tangible products (goods) and intangible items (services) that are produced and provided to meet consumer needs and wants.

Mode of Transportation

Mode of Transportation describes the various methods used for moving goods or passengers, including air, rail, road, and sea.

Transportation Decisions

Relate to choosing the most efficient means and routes for moving goods within the supply chain.

Supply Chain

The network connecting suppliers to manufacturers, distributors, and retailers to the consumer, ensuring the flow of goods and services.