If the Number of Unemployed Workers Is 19 Million,the Number

question 251

Multiple Choice

If the number of unemployed workers is 19 million,the number in the working-age population is 500 million,and the unemployment rate is 4%,what is the labor force participation rate?

• A)4.75%
• B)7.8%
• C)95%
• D)96.2%

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Definitions:

Nondiscriminating

Fair treatment not based on preconceived biases or prejudices.

Marginal Cost

The extra production cost for creating an additional unit of a good or service.

Average Total Cost

Represents the total cost of production (fixed plus variable costs) divided by the total quantity produced, indicating the cost per unit of output.

Subsidized

Financial support extended by the government or another body to reduce the cost of goods, services, or activities to encourage more consumption or participation.