The Number of People Unemployed Equals

question 103

Multiple Choice

The number of people unemployed equals

• A) the number of people employed minus the labor force.
• B) the labor force plus the number of people employed.
• C) the labor force minus the number of people employed.
• D) the number of people employed divided by the labor force.

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Definitions:

Inventory

The raw materials, work-in-progress products, and finished goods considered to be the portion of a business’s assets that are ready or will be ready for sale.

Irrelevant Costs

Costs that should not be considered in decision-making because they will not be affected by the decision.

Direct Fixed Manufacturing Costs

Costs that are directly attributable to the production process and do not vary with the level of output but remain constant within a specific time period.

Component

A part or element of a larger system, device, or piece of equipment that is essential to its function.