If a country's labour force is 15 million people, and 500 000 of those are unemployed, the country's unemployment rate is

Question

Quizplus · Accepted Answer

To calculate the unemployment rate, we need to divide the number of unemployed people by the total labor force and multiply by 100.

Unemployment rate = (Number of unemployed people / total labor force) x 100

In this case, the number of unemployed people is 500,000 and the total labor force is 15 million.

Unemployment rate = (500,000 / 15,000,000) x 100
Unemployment rate = 3.3%

Therefore, the answer is B.

If a Country's Labour Force Is 15 Million People, and 500