Suppose that there are 70 million people in the labour force,of whom 60 million are employed.The unemployment rate is:
A) 7%.
B) 10%.
C) 14.29%.
D) 4.2%.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed people by the total labour force and multiplying by 100. In this case, the unemployment rate is (70 million - 60 million) / 70 million * 100 = 14.29%.

Suppose That There Are 70 Million People in the Labour