Calculate the unemployment rate of country X if there are 15M individuals in the non-institutional population 15 years and over; 2M people are classified as unemployed and 10M people have jobs. Select one: A.13.3% B.80% C.16.7% D.66.7%
Calculate the unemployment rate of country X if there are 15M individuals in the non-institutional population 15 years and over; 2M people are classified as unemployed and 10M people have jobs. Select one: A.13.3% B.80% C.16.7% D.66.7%
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 2SCQ: Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How...
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Question
Calculate the
Select one:
A.13.3%
B.80%
C.16.7%
D.66.7%
Expert Solution
Step 1
The unemployment rate is the rate that shows the proportion of unemployed people in the total labor force of a country.
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