If the Number of People Employed Is 150,000 and the Labor

question 119

Multiple Choice

If the number of people employed is 150,000 and the labor force is 170,000, the unemployment rate is

• A) 2.5%.
• B) 6.25%.
• C) 6.55%.
• D) 11.76%.

Analyze the impact of historical events and societal changes on national economies and production capabilities.

Understand the role of resources and capital in the production process.

Appreciate the necessity of economizing due to scarcity.

Recognize the implications of government spending and institutional constraints on economic outcomes.

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Definitions:

End Justifies

A philosophical principle suggesting the morality of an action can be determined by its outcome or intended result.

Means

Methods or ways employed to achieve a certain end or goal.

Rule Utilitarianism

A form of utilitarianism that suggests the best action is one that conforms to a rule that leads to the greatest good.

Greatest Good

A principle often associated with utilitarianism, focusing on actions that produce the highest level of happiness or benefit for the greatest number of people.