If the labor force is 500 and employment is 450, then the unemployment rate is
A) 100%.
B) 90%.
C) 10%.
D) 0%.

Question

Quizplus · Accepted Answer

The unemployment rate can be calculated by dividing the number of unemployed individuals by the labor force, and then multiplying by 100 to get a percentage. Therefore, the calculation is (500 - 450) / 500 * 100 = 50 / 500 * 100 = 10%. This means that 10% of the labor force is currently unemployed.

If the Labor Force Is 500 and Employment Is 450