Don Worked as a Machinist All His Life, and Was

question 104

Multiple Choice

Don worked as a machinist all his life, and was recently laid off because his plant closed and the jobs were outsourced to India. There don't seem to be any machinist jobs in the area anymore. Don would be considered:

• A) frictionally unemployed.
• B) structurally unemployed.
• C) real-wage unemployed.
• D) Don is a discouraged worker.

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Definitions:

Consolidated Balance Sheet

A financial statement showing the combined assets, liabilities, and equity of a parent company and its subsidiaries.

Non-controlling Interest

A shareholder's equity in a subsidiary that is not attributable to the parent company, representing minority ownership.

Consolidated Net Income

The total earnings of a corporation, after tax, including earnings from subsidiaries, before distributing dividends.

Cost Method

An accounting approach where investments are recorded at their acquisition cost, without adjustment for increases or decreases in market value.