(Table) According to the table, what is the unemployment rate of this economy? $$\begin{array} { | l | r | }
\hline \text { Population } & 500 \
\hline \text { Number employed } & 300 \
\hline \text { Number unemployed } & 50 \
\hline
\end{array}$$
A) 10%
B) 14.3%
C) 16.67%
D) 25%

Question

(Table) According to the table, what is the unemployment rate of this economy? $$\begin{array} { | l | r | } 
\hline \text { Population } & 500 \
\hline \text { Number employed } & 300 \
\hline \text { Number unemployed } & 50 \
\hline
\end{array}$$
A) 10%
B) 14.3%
C) 16.67%
D) 25%

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed by the total labor force (employed + unemployed). In this case, the unemployment rate is 50 / (300 + 50) = 0.143 or 14.3%.

(Table) According to the Table, What Is the Unemployment Rate