Answered: Which of the following represents…

Which of the following represents people who are willing and able to work in an economy? a. Population b. Employed people c. Labour force d. Unemployed people

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 15RQ: What criteria do the BLS use to count someone as employed? As unemployed?

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Question

19.

Which of the following represents people who are willing and able to work in an economy?

a.
Population

b.
Employed people

c.
Labour force

d.
Unemployed people

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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