Suppose that in a population of 100 million people,50 million are in the labor force and 47 million are employed.The unemployment rate is:
A) 6.0 percent.
B) 6.4 percent.
C) 53.0 percent.
D) 94.0 percent.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force, multiplied by 100. Here, 3 million people are unemployed (50 million - 47 million), so the unemployment rate is (3 million / 50 million) * 100 = 6.0 percent.

Suppose That in a Population of 100 Million People,50 Million