Answer to Question #94452 in Macroeconomics for Nomthandazo

Question

if the number of people classified as unemployed is 120000 and the number of those employed in the same year is 80000, what is the unemployment rate?
(1) 40%
(2) 66.7%
(3) 12%
(4) 8%

Answer 1

All options are wrong

$Urate=[U/(U+E)]*100$

$Urate=[120000/(120000+80000)]*100$

Urate=6%

All options are wrong