The Unemployment Rate Is

question 208

Multiple Choice

The unemployment rate is

• A) the difference between the number of people in the labor force and the number of people employed.
• B) one plus the employment rate.
• C) one minus the employment rate.
• D) the ratio of the labor force to the number of people unemployed.

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Definitions:

Inflation Rate

The rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling.

Market Basket

A selected set of goods and services used to track changes in prices and inflation over time, representing the typical consumption of a household.

CPI

A gauge of the weighted average cost of a selection of consumer goods and services, including transportation, healthcare, and food, known as the Consumer Price Index.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services.