Monday, February 15, 2016

Suppose the current unemployment rate is 5 percent, the labor force is 400 million people, the labor force participation rate is 80 percent and the working-age population is 500 million people. What number of people are unemployed?



Suppose the current unemployment rate is 5 percent, the labor force is 400 million people, the labor force participation rate is 80 percent and the working-age population is 500 million people. What number of people are unemployed?

#Parkin #11edition #Unemployment #CPI #Inflation #Chapter22

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1 comment:

  1. Rully MangunsongFebruary 15, 2016 at 1:52 AM

    Answer: The number of unemployed people equals the labor force multiplied by the unemployment rate. So the number of unemployed people is (400 million) × (5 percent) = 20 million people.

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