The Labor Force Is Defined as

question 38

Multiple Choice

The labor force is defined as

• A) all individuals who are currently employed.
• B) all individuals who are at least 16 years old and are currently employed.
• C) all individuals who are at least 16 years old and are currently employed or unemployed.
• D) all individuals who are at least 16 years old and are employed, looking for work or not looking for work.

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Definitions:

Creditors

Entities or individuals to whom money or its equivalent is owed.

Third Party

A third party is an entity that is neither the principal nor the counterparty in a transaction, agreement, or legal case but may have an interest or be indirectly involved.

Guaranty Contract

A legal agreement wherein a guarantor agrees to fulfill the obligations of a debtor to a lender, should the debtor fail to do so.

Creditor

An entity (person or institution) that lends money or extends credit to another entity, with the expectation of being repaid in the future.