The following information is about a hypothetical economy:
Full-time employed = 80
Part-time employed = 25
Unemployed = 15
Discouraged workers = 5
Members of underground economy = 6
Consumer Price Index = 110
-Refer to the above information.The unemployment rate is:

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed divided by the labor force (full-time employed + part-time employed + unemployed), then multiplied by 100. Here, it is (15 / (80 + 25 + 15)) * 100 = 12.5 percent.

The Following Information Is About a Hypothetical Economy