Assume the unemployment rates among different groups in the labor force are as follows: adult males 10%, adult females 8%, and teenagers 18%.Teenagers account for 10% of the total labor force, while women account for 45% of the adult labor force.What is the actual unemployment rate nationwide?
A)9)7%
B)9)8%
C)9)9%
D)10.2%
E)10.9%

Question

Quizplus · Accepted Answer

To calculate the actual unemployment rate nationwide, we need to first calculate the proportion of each group in the labor force. 
- Adult males account for (1 - 0.10 - 0.08) = 0.82 or 82% of the labor force 
- Adult females account for 0.45 * 0.82 = 0.369 or 36.9% of the labor force 
- Teenagers account for 0.10 or 10% of the labor force

Next, we calculate the weighted average of the unemployment rates:

(0.10 * 0.18) + (0.369 * 0.08) + (0.82 * 0.1) = 0.0204

Therefore, the actual unemployment rate nationwide is 2.04% or 9.9% (if expressed as a percentage of the labor force).

Therefore, the correct answer is C) 9.9%.

Assume the Unemployment Rates Among Different Groups in the Labor