Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the unemployment rate is approximately
A) 4.2 percent.
B) 6.1 percent.
C) 7.5 percent.
D) 8.0 percent.
Correct Answer:
Verified
Q6: If Sam does not have a job
Q7: Recall the Application about declining U.S. labor
Q8: Suppose an economy consists of 500,000 individuals
Q9: Suppose an economy consists of 500,000 individuals
Q10: Table 6.1
Employment status of the working age
population
Q12: If Sam does not have a job
Q13: Economists define the labor force to include
A)
Q14: Table 6.1
Employment status of the working age
population
Q15: Table 6.1
Employment status of the working age
population
Q16: People who are currently not working but
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