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 labor force is 180 million. The number of employed workers in this
Economy is

Question

Quizplus · Accepted Answer

The number of employed workers can be calculated by subtracting the number of unemployed workers from the total labor force. The unemployment rate is 7.5%, so the number of unemployed workers is 7.5% of the civilian labor force (180 million). This gives us 180 million * 7.5% = 13.5 million unemployed workers. Subtracting the unemployed workers from the total labor force gives us 180 million - 13.5 million = 166.5 million employed workers.

The Unemployment Rate in an Economy Is 7