ECONOMICS
BUSINESS CYCLES
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Leading economic indicator
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Full employment
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Unemployment rate
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workforce
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Detailed explanation-1: -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-2: -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.
Detailed explanation-3: -Unemployment rate – the percentage of people in the labour force that are unemployed. Participation rate – the percentage of people in the working-age population that are in the labour force.
Detailed explanation-4: -The labour force participation rate is the number of persons in the labour force as a percentage of the working-age population. The labour force is the sum of the number of persons employed and the number of persons unemployed.
Detailed explanation-5: -The unemployment rate is the percentage of the labor force without a job.