In a country with population of 50 million people, there are 20 million children under age of 15, 16 million employed, 9 million pensioners,4 million unemployed and 1 million people who are physically unable to work. The unemployment rate in the country equals: a) 10% b) 13.3% c)20% d)25%

In a country with population of 50 million people, there are 20 million children under age of 15, 16 million employed, 9 million pensioners,4 million unemployed and 1 million people who are physically unable to work. The unemployment rate in the country equals: a) 10% b) 13.3% c)20% d)25%

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 20SQ

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Question

multiple choice

a) 10%

b) 13.3%

c)20%

d)25%

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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