The unemployment rate in an economy is 7.5 percent.The total population of the economy is 250 million and the size of the civilian labour force is 180 million.The number of employed workers in this economy is:

Question

Quizplus · Accepted Answer

The unemployment rate is the percentage of the labor force that is unemployed. With a 7.5% unemployment rate and a labor force of 180 million, the number of unemployed is 13.5 million (0.075 * 180 million). Therefore, the number of employed workers is 180 million - 13.5 million = 166.5 million.

The Unemployment Rate in an Economy Is 7