The main statistic that is used to monitor unemployment in the economy is:
A) real gross domestic product (GDP).
B) the unemployment rate.
C) the unemployed-employed ratio.
D) real GDP per capita.
E) discouraged workers.

Question

Quizplus · Accepted Answer

The unemployment rate is the most commonly used statistic to measure unemployment in an economy. It represents the percentage of the labor force that is unemployed, and is calculated by dividing the number of unemployed individuals by the total number of individuals in the labor force. This rate is closely watched by policymakers, economists, and the public to gauge the health of the job market and overall economy. Other statistics, such as real GDP and real GDP per capita, can also provide important information about the economy, but they are not specifically geared toward measuring unemployment.

The Main Statistic That Is Used to Monitor Unemployment in the Economy