Asked by Zixin Zhang on May 26, 2024
Verified
Suppose the total population of an economy is 150 million,the labor force is 100 million,and the unemployment is 94 million.The unemployment rate is _____.
A) 6 percent
B) 80 percent
C) 94 percent
D) 10 percent
E) 15 percent
Unemployment Rate
The rate of joblessness among individuals in the labor force who are earnestly seeking employment.
Labor Force
The total number of people who are employed and those unemployed but seeking work in an economy.
Total Population
The complete count of all individuals within a specified area or country at a given time.
- Ascertain the unemployment rate across assorted contexts.
Verified Answer
EP
Elizabeth PedersenMay 30, 2024
Final Answer :
C
Explanation :
The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, multiplied by 100.
So, the unemployment rate is (94 / 100) x 100 = 94%. Option C is the correct answer.
So, the unemployment rate is (94 / 100) x 100 = 94%. Option C is the correct answer.
Learning Objectives
- Ascertain the unemployment rate across assorted contexts.
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