A nation has a population of 300 million people. Of these, 100 million are retired, in the military, in institutions, or under 16 years old. There are 190 million who are employed and 10 million who are unemployed. What is the unemployment rate?
a. 1.9 percent
b. 10 percent
c. 2 percent
d. 5 percent
Answer: d. 5 percent
You might also like to view...
When marginal costs are increasing:
A. a firm is experiencing diminishing returns. B. average cost is always increasing. C. average cost is always decreasing. D. marginal costs are always greater than average costs.
Specialization can occur because
A. governments pass laws that require it. B. varying skills differentiate workers. C. managers and laborers share job tasks. D. absolute advantage creates specialization among laborers.
The burden of debt is borne by future generations.
A. True B. False C. Uncertain
A vertical demand curve for a particular good implies that consumers are
A) sensitive to changes in the price of that good. B) not sensitive to changes in the price of that good. C) irrational. D) not interested in that good.