BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

Solutions

Chapter
Section
BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Suppose 100 million people are in the civilian labor force and 90 million people are employed. How many people are unemployed? What is the unemployment rate?

To determine

The rate of unemployment.

Explanation

Given the number of people in the Civilian labor force is 100 million and the number of employed people is 90 million.

The number of unemployed people can be calculated as the difference between the civilian labor force and the number of employed people. The number of unemployed people can be calculated using Equation (1) as follows:

Number of unemployed people=(Civilian labor forceNumber of employed people) (1)

The number of unemployed people can be calculated by substituting the respective values in Equation (1) as follows:

Number of unemployed people=10090=10

Thus, the number of unemployed people is 10 million

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Why do economists oppose policies that restrict trade among nations?

Principles of Microeconomics (MindTap Course List)

In what ways is economics a science?

Essentials of Economics (MindTap Course List)

Does interest rate parity imply that interest rates are the same in all countries?

Fundamentals of Financial Management (MindTap Course List)

What is an XBRL tag?

Accounting Information Systems

FREE CASH FLOW Financial information for Powell Panther Corporation is shown here. Powell Panther Corporation: ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)