Suppose that a country's population is 30 million and it has a labour force of 15 million people.If 14.5 million people are employed,the country's unemployment rate is
A)2.5%.
B)3.3%.
C)4.5%.
D)6.7%.
E)9.0%.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force, then multiplied by 100. In this case, there are 15 million in the labor force and 14.5 million are employed, so 0.5 million are unemployed. The unemployment rate is (0.5 million / 15 million) * 100 = 3.3%.

Suppose That a Country's Population Is 30 Million and It