Question 19 (Mandatory) (1 point) Refer to the following table below. Calculate the unemployment rate for this economy based on the data provided. Category Number of people (millions) Institutionalized 14 Full-time workers 113 Less than 16 years of age 40 Armed forces (non-civilian) 20 Part-time workers 27 Population 314 Looking for work 14 11% 4.5% 9.1% 8.8%
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The labor force includes institutionalized full-time workers, part-time workers, and those looking for work. Total labor force = Institutionalized full-time workers + Part-time workers + Population looking for work Total labor force = 113 + 27 + 14 Total labor Show more…
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