Answer to Question #135041 in Macroeconomics for cameron

Question

Out of 20 million people in the population, 9 million people are in the labour force
and 3 million are unemployed, therefore the unemployment rate is:
(2)
(1) 3 percent.
(2) 15 percent.
(3) 30 percent.
(4) 33,3 percent.

Answer 1

solution

unemployed people=3 million

labor force=9 million

unemployment rate can be calculated as

$unemployment\space rate =\frac{unemployed\space\space people}{labor\space force}\times100$

$unemployment\space rate=\frac{3}{9}\times100\\\\\\\\\\\\\\\\\\\space unemployment\space rate=33.33$

so unemployment rate is 33.33 percent.