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If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, what is the unemployment rate? a. 8 percent b. 20 percent c. 25 percent d. 32 percent e. 30 percent

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, what is the unemployment rate? a. 8 percent b. 20 percent c. 25 percent d. 32 percent e. 30 percent

Principles of Economics 2e
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 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...
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If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, what is the unemployment rate? a. 8 percent b. 20 percent c. 25 percent d. 32 percent e. 30 percent
Transcribed Image Text:If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, what is the unemployment rate? a. 8 percent b. 20 percent c. 25 percent d. 32 percent e. 30 percent
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