Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is
A) 37 million.
B) 22 million.
C) 15 million.
D) 7 million.

Question

Quizplus · Accepted Answer

To find the number of unemployed people, we need to first calculate the number of employed people:

Employed = Labor Force – Unemployed
Employed = 150 million – (10% x 150 million)
Employed = 150 million – 15 million
Employed = 135 million

Now that we know the number of employed people, we can calculate the number of unemployed people:

Unemployed = Working-Age Population – Employed
Unemployed = 220 million – 135 million
Unemployed = 85 million

Therefore, the number of unemployed people is 15 million.

Suppose the Working-Age Population Is 220 Million, the Labor Force