1. Study the following figure of an economy Number of Persons Persons aged 15 or above s or 1,500,000 Labour force 1,000,000 Employed population 840,000 The unemployment rate of the economy is A. 10.7% B. 16% C. 56% D. 84% 2. Which of the following is a loss to the society resulting from unemployment? A. loss of income B. loss of skills of labour C. decrease in economy's output D. increase in unemployment benefit 3. Refer to the following data, calculate the unemployment rate of the Country A.

1. Study the following figure of an economy Number of Persons Persons aged 15 or above s or 1,500,000 Labour force 1,000,000 Employed population 840,000 The unemployment rate of the economy is A. 10.7% B. 16% C. 56% D. 84% 2. Which of the following is a loss to the society resulting from unemployment? A. loss of income B. loss of skills of labour C. decrease in economy's output D. increase in unemployment benefit 3. Refer to the following data, calculate the unemployment rate of the Country A.

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 41CTQ: Unemployment rates have been higher in many European countries in recent decades than in the United...

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