Imagine a country has a population of 210 million. Within the country there are 95 million people who are employed workers, 50 million people incapable of working, and 60 million people capable of working, but not actively looking. Based on this information, what is the unemployment rate?
A. 3%
B. 5%
C. 7%
D. 9%
I know it's not D. 9%. Please help me :(
Imagine a country has a population of 210 million. Within the country there are 95 million people who are employed workers, 50 million people incapable of working, and 60 million people capable of working, but not actively looking. Based on this information, what is the unemployment rate?
2 answers
50+60+95=205 not 210
Further, the 60 Mil. people not working also aren't looking for work, so they would not be counted (at least in the American system), making the answer 0% which is imposable.
If they were counted, the only ones you are looking at are them. SO...
205/60 = 3.14%
OR (as given) with 210
210/60 = 3.5% both of which are close to one of your choices.
Further, the 60 Mil. people not working also aren't looking for work, so they would not be counted (at least in the American system), making the answer 0% which is imposable.
If they were counted, the only ones you are looking at are them. SO...
205/60 = 3.14%
OR (as given) with 210
210/60 = 3.5% both of which are close to one of your choices.