Use the following table to answer the questions that follow.

-According to the table,the unemployment rate in this economy is equal to:
A) 4.9%.
B) 92.2%.
C) 63.4%.
D) 7.8%.
E) 8.5%.

Question

Use the following table to answer the questions that follow.
 
-According to the table,the unemployment rate in this economy is equal to:
A) 4.9%. 
B) 92.2%. 
C) 63.4%. 
D) 7.8%. 
E) 8.5%.

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and multiplying by 100. In the given table, the number of unemployed individuals is 2.3 million and the total labor force is 29.6 million. Dividing 2.3 by 29.6 and multiplying by 100 gives us an unemployment rate of approximately 7.8%. Therefore, the correct answer choice is D.

Use the Following Table to Answer the Questions That Follow