The nation of Workovia has a population of 15 million, of whom, 10 million are in the labor force and 9 million are working. Workovia's unemployment rate is:

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and then multiplying by 100. In Workovia, 1 million people are unemployed (10 million labor force - 9 million working), so the unemployment rate is (1 million / 10 million) * 100 = 10%.

The Nation of Workovia Has a Population of 15 Million