Answered: 1. Asurvey of 200,000 people finds…

1. Asurvey of 200,000 people finds 76,300 "employed," 6,640"unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers?

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 23RQ: What forces create the natural rate of unemployment for an economy?

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Question

1. Asurvey of 200,000 people finds 76,300
"employed," 6,640"unemployed," and the
remaining 117,060 "not in the labor force."
What is the unemployment rate derived
from these numbers?

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