The Official Unemployment Rate Is

question 77

Multiple Choice

The official unemployment rate is:

• A)the number of unemployed people divided by the number of employed people.
• B)the number of unemployed people divided by the total size of the population.
• C)the number of unemployed people divided by the size of the non-institutionalized population.
• D)the number of unemployed people divided by the size of the labor force.
• E)the number of unemployed people divided by the size of the non-institutionalized population, age 16 or older.

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Definitions:

Factory Overhead Rate

A rate used to assign or allocate factory overhead costs to individual units of production, usually based on a standard measure such as labor hours or machine hours.

Direct Labor Cost

The total of all wages paid to employees who are directly involved in the production of goods or services.

Internal Stakeholders

Individuals or groups within an organization who are directly impacted by its actions, decisions, and outcomes, such as employees, managers, and owners.

External Stakeholders

Individuals or groups outside of a company who are affected by or have an interest in its operations, such as customers, suppliers, and the community.