Answer to Question #137477 in Macroeconomics for Amanda Cilo

Question

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

Answer 1

Unemployment Rate =$\frac{Unemployed People} {Total Labor Force} ×100$

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Unemployment Rate =$\frac{3}{9}×100 =33.33\%$

=33.3 percent.