If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployment rate would be
Added by Molly M.
Step 1
The unemployment rate is the percentage of the labor force that is not employed but actively seeking employment. Show more…
Show all steps
Your feedback will help us improve your experience
Niamat Khuda and 56 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
(1) Population: 250,000 Unemployed: 20,000 Labor Force Participation Rate: 80% (a) How many people are in the labor force? (b) What is the unemployment rate? (2) Not in the labor force: 125,000 Unemployed: 25,000 Employed: 100,000 What is the unemployment rate?
Natassia F.
Given a total population of 5,000 residents and a labor force of 4,000 residents, 3,500 of which are employed, what is the unemployment rate? (1 point) 87.5% 70% 10% 12.5%
Prabhat T.
Suppose that an economy has 9 million people working fulltime. It also has 1 million people who are actively seeking work but currently unemployed as well as 2 million discouraged workers who have given up looking for work and are currently unemployed. What is this economy's unemployment rate? $L O 27.2$ a. 10 percent. b. 15 percent. c. 20 percent. d. 25 percent.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD
