If the Number of Unemployed Workers Is 200 Million,the Number

question 157

Multiple Choice

If the number of unemployed workers is 200 million,the number of employed workers is 300 million,and the working-age population is 800 million,what is the labor force participation rate?

• A)12.5%
• B)37.5%
• C)40%
• D)62.5%

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Definitions:

Value Of Goods

The monetary worth assigned to products, determined by factors such as market demand, production costs, and competitive pricing.

Just-In-Time System

The Just-In-Time System is an inventory management philosophy aimed at decreasing waste and increasing efficiency by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Inventories

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or in the rendering of services.

Production Lead Times

The total time it takes from the initiation to the completion of a production process, including both processing and waiting times.