An economy has a population of 226,500 people, of whom 12,500 are unemployed and actively seeking work, and 35,000 have given up looking for a job. Also, 28,000 people work part-time, and 151,000 people work full-time. This economy's unemployment rate is

Question

Quizplus · Accepted Answer

The labor force is the sum of employed and unemployed individuals actively seeking work, which is 12,500 + 28,000 + 151,000 = 191,500. 
Therefore, the unemployment rate is (unemployed/labor force) * 100% = (12,500/191,500) * 100% ≈ 6.53%, which is closest to answer B.

An Economy Has a Population of 226,500 People, of Whom