Question

A country has a total civilian population (over age 16) of 300 million. Of this population, 225 million are employed, 25 million are unemployed, and the remainder of the population is not in the labor force. Then, the unemployment rate is:________
a. .100. b. .150. c. .111. d. .083.

Answer 1

Answer:

Unemployment rate= 0.1

Explanation:

Giving the following information:

Labor force= 225 + 25= 250

Employed people= 225

Unemployed people= 25

To calculate the unemployment rate, we need to use the following formula:

Unemployment rate= unemployed people / labor force

Unemployment rate= 25/250

Unemployment rate= 0.1