Who Is Considered Officially Unemployed

question 37

Multiple Choice

Who is considered officially unemployed?

• A)Six months after failing to get a job, Abba quit looking.
• B)Monica graduated from college last summer but is still unemployed despite her spirited search.
• C)Kariuki is a retired teacher.
• D)Chen is going to school full time.

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Definitions:

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or sold within a specific timeframe, including rent, salaries, and insurance premiums.

Relevant Range

The range of operating activity within which the assumptions about fixed and variable cost behaviors remain valid.

Fluctuate

To change or vary irregularly in number, amount, volume, or intensity.

Committed Fixed Cost

Long-term fixed costs that cannot be easily changed and are typically tied to the investment in facilities, equipment, and basic organizational structure.