Short Answer
NOT: a. The unemployment rate is calculated as: (number of unemployed / labor force) x 100.
b. The labor force is calculated as: the total number of unemployed + the number of employed.
-You are given the following statistics about the economy:
Unemployment rate: 5.7%
Number of unemployed: 10 million
a.How many people are in the labor force?
b.How many people are employed?
Correct Answer:
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a.175 mill...View Answer
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Correct Answer:
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