Suppose you are provided with the following data for your country for a particular month: 200 million people are working,20 million are not working but are looking for work,and 40 million are not working and have given up looking for work.The official unemployment rate for that month is
A)7.7%.
B)9.1%.
C)10%.
D)23%.
E) 30%.

Question

Quizplus · Accepted Answer

The official unemployment rate is calculated by dividing the number of people who are actively seeking work (20 million) by the total labor force (200 million + 20 million) and multiplying by 100. 
Unemployment rate = (20 million / 220 million) x 100 = 9.1%. 
Therefore, the best choice is option B.

Suppose You Are Provided with the Following Data for Your