ou are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct? a. There are 2.5 million unemployed in this country. b. The unemployment rate is approximately 8%. c. The employment rate is approximately 88%. d. The participation rate is approximately 67%.
ou are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct? a. There are 2.5 million unemployed in this country. b. The unemployment rate is approximately 8%. c. The employment rate is approximately 88%. d. The participation rate is approximately 67%.
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 2WNG
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You are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct?
a. There are 2.5 million unemployed in this country.
b. The
c. The employment rate is approximately 88%.
d. The participation rate is approximately 67%.
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