If an economy has a total labor force of 1,500 and there is a 5 percent unemployment rate, then how many workers are employed?
A) 1,400
B) 1,425
C) 1,450
D) 1,475

Name: If an economy has a total labor force of 1,500 and there is a 5 percent unemployment rate, then how many workers are employed? A) 1,400 B) 1,425 C) 1,450 D) 1,475
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Quizplus · Accepted Answer

The unemployment rate is 5%, meaning 5% of the labor force is unemployed. Therefore, 95% of the labor force is employed. 95% of 1,500 is 1,425.

If an Economy Has a Total Labor Force of 1,500