Suppose that in some state the adult population is 4 million,the labor-force participation rate is 75%,and that .25 million people are unemployed.What is the unemployment rate to the nearest tenth?

Question

Quizplus · Accepted Answer

Number of people in labor force = (75/100) x 4 million = 3 million

Number of employed people = 3 million - 0.25 million = 2.75 million

Unemployment rate = (0.25 million/3 million) x 100 = 8.3%

Therefore, the answer is C) 8.3%.

Suppose That in Some State the Adult Population Is 4