Scenario 28-1 Suppose That the Bureau of Labor Statistics Reports That the That

Multiple Choice

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed,3 million people unemployed,1 million discouraged workers,and 1 million people who are either students,homemakers,retirees,or other people not seeking employment.
-Refer to Scenario 28-1.What is the unemployment rate?

A) 3.3%
B) 6.7%
C) 10.7%
D) 12%