If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the unemployment rate is
A) 23.3 percent.
B) 26.7 percent.
C) 6.25 percent.
D) 6.7 percent.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force. In this case, the labor force is 150 million, and the number of unemployed people is 10 million. Therefore, the unemployment rate is 10 million / 150 million = 0.0667, or 6.67%.

If the Population Is 300 Million, with 70 Million Under