Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 175 million people. What is the unemployment rate?
What will be an ideal response?
The unemployment rate is (20 million unemployed ÷ 150 million labor force) × 100 = 13.3 percent.
You might also like to view...
According to the H-S definition of income, employer contributions are excluded from money income.
A. True B. False C. Uncertain
Suppose Mara and David compete, selling fried green tomatoes in a perfectly competitive market. If Mara increases output,
a. David must reduce output b. the price David can charge falls c. the price David can charge rises d. the price David can charge is unaffected e. David's economic profit must fall
A decrease in supply, with no change in demand, will lead to ________ in equilibrium quantity and ________ in equilibrium price.
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
The objective of rent controls is to
A. encourage the construction of new rental units. B. ensure an adequate supply of rental housing for the poor. C. keep rents below levels that would be observed in a freely competitive market. D. raise revenue for the local government.