Suppose the total population of an economy is 150 million, the labor force is 100 million, and the number of unemployed workers is 94 million. The unemployment rate is _____.

Question

Quizplus · Accepted Answer

The unemployment rate is the percentage of the labor force that is unemployed. 
Unemployment rate = (number of unemployed workers / labor force) x 100%
Substituting the given values, we get: 
Unemployment rate = (94 million / 100 million) x 100% = 94%
Therefore, the answer is C) 94 percent.

Suppose the Total Population of an Economy Is 150 Million