There are 500 m. working-age individuals: 400 m. are currently working, 20 m. are looking for work; 25 m stopped looking for work five months ago, and 55 m do not want to work. The unemployment rate, u, is: 20% 4% 16% 4.76% none of the above

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
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There are 500 m. working-age individuals: 400 m. are currently working, 20 m. are looking for work; 25 m stopped looking for work five months ago, and 55 m do not want to work. The unemployment rate, u, is:

  1. 20%
  2. 4%
  3. 16%
  4. 4.76%
  5. none of the above

 

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