A country has a population of 11 million. There are 3 million persons under age 16 and 7 million persons age 21 or older. There are 6 million employed persons, 1 million unemployed persons, 500,000 retired persons, and 500,000 full-time homemakers. What is the U3 unemployment rate? Round to one decimal place.
A) 7.1%
B) 9.1%
C) 12.5%
D) 14.3%
Correct Answer:
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