BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the value of all final goods and services produced
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an increase in the general price level
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the percentage of people looking for work that can’t find it
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the economic freedom an economy offers
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Detailed explanation-1: -The unemployment rate measures the share of workers in the labor force who do not currently have a job but are actively looking for work. People who have not looked for work in the past four weeks are not included in this measure.
Detailed explanation-2: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed ÷ Labor Force) x 100.
Detailed explanation-3: -Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).
Detailed explanation-4: -The unemployment rate measures: the number of people unemployed divided by the number of people employed. unemployed workers as a percentage of the labor force.
Detailed explanation-5: -Explanation: Involuntary unemployment is a type of unemployment in which the person wishes to work but he/she does not get the job because the country’s economy lacks in providing one.