A country has 10 million people, 5 million of whom are adults. Of the adults, 0.5 million are not interested in working, another 0.5 million are interested in working but have given up looking for work, and 1 million are still looking for work. Of those who do have jobs, 1 million are working part time but would like to work full time, and the remaining workers are working full time. What is this country's unemployment rate? a. 20 percent b. 25 percent c. 30 percent d. 10 percent
A country has 10 million people, 5 million of whom are adults. Of the adults, 0.5 million are not interested in working, another 0.5 million are interested in working but have given up looking for work, and 1 million are still looking for work. Of those who do have jobs, 1 million are working part time but would like to work full time, and the remaining workers are working full time. What is this country's unemployment rate? a. 20 percent b. 25 percent c. 30 percent d. 10 percent
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Unemployment
Section: Chapter Questions
Problem 4PA
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Transcribed Image Text:A country has 10 million people, 5 million of whom are adults. Of the adults, 0.5 million are not
interested in working, another 0.5 million are interested in working but have given up looking
for work, and 1 million are still looking for work. Of those who do have jobs, 1 million are
working part time but would like to work full time, and the remaining workers are working full
time. What is this country's unemployment rate?
a. 20 percent
b. 25 percent
c. 30 percent
d. 10 percent
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