Multiple Choice
Suppose a country has 10 million people.Three-fourths of those individuals are in the labor force,with 500,000 unemployed.Full employment occurs at 5 percent.Based on this information,what is the unemployment rate?
A) 6.67 percent.
B) 75 percent.
C) 7.5 percent.
D) 5 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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