Multiple Choice
In a country with a working-age population of 30 million, 18 million are employed, 2 million are unemployed, and 2 million of the employed are working part-time, half of whom wish to work full-time. If 1 million of those unemployed are cyclically unemployed, what is the natural unemployment rate?
A) 5.6 percent
B) 5 percent
C) 6.7 percent
D) 11.1 percent
E) 1 percent
Correct Answer:
Verified
Correct Answer:
Verified
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