In a country with a labour force of 10 million, 8 million are employed. What is the unemployment rate?
A) 20 percent
B) 25 percent
C) 40 percent
D) 80 percent
E) There is not enough information to calculate the unemployment rate.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, then multiplied by 100 to get a percentage. In this case, 2 million (10 million - 8 million) are unemployed. Therefore, the unemployment rate is (2 million / 10 million) * 100 = 20 percent.

In a Country with a Labour Force of 10 Million