Assume the following for the town of Boone: The town has a total population of 50,000 people, of which 4,000 are under 16 years of age or are institutionalized; 5,000 are full-time students who are not employed and are not seeking work; and 40,000 are employed. The rest of the people are out of work but have been actively seeking work within the past four weeks. What is the unemployment rate in Boone? Instructions: Round your answer to 1 decimal place. percent

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