Full-Time Employed = 80 Part- Time Employed = 25 Unemployed = 15 Discouraged
Workers = 5
Members of Underground Economy = 6
Consumer Price Index = 110
Refer to the given information about a hypothetical economy.The unemployment rate is

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed divided by the labor force (full-time employed + part-time employed + unemployed), then multiplied by 100. Here, the labor force is 80 + 25 + 15 = 120. The unemployment rate is (15/120) * 100 = 12.5%.