Assume you are told there are 3,000,000 in a country's labor force, 5,000,000 in the population, andthe number of people employed is 2,820,000. What is the unemployment rate?43%5%40%6%3%

Labor force= employed+unemployed Unemployed = 3,000,000-2,820,000 = 180,000

Answered: Assume you are told there are 3,000,000…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 34CTQ: Is the higher unemployment rates for minority workers necessarily an indication of discrimination?...

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Assume you are told there are 3,000,000 in a country's labor force, 5,000,000 in the population, and the number of people employed is 2,820,000. What is the unemployment rate? 43% O 5% 40% 6%