In an economy with a population of 100 million persons,50 million hold civilian jobs and 20 million are not working but are looking for a job.The unemployment rate is

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Quizplus · Accepted Answer

The unemployment rate is the percentage of the labor force that is unemployed. The labor force is the sum of those employed and those unemployed but looking for a job. In this case, the labor force is 50 million + 20 million = 70 million. The unemployment rate is therefore 20 million / 70 million * 100 = 28.57%.

In an Economy with a Population of 100 Million Persons,50