ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unemployed divided by the number employed.
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unemployed divided by the number in the labor force.
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unemployed divided by the population age 16 and over.
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not working divided by the population age 16 and over.
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Detailed explanation-1: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed รท Labor Force) x 100.
Detailed explanation-2: -Unemployment Rate = Unemployed / Civilian Labor Force The civilian labour force, as mentioned in the formula, consists of both employed and unemployed people.
Detailed explanation-3: -Employment Rate equals? Number of employed persons divided by civilian noninstitutional population.
Detailed explanation-4: -Explanation: Total number of unemployed / total labour force multiplied by 100 is the correct formula to find out the unemployment rate.
Detailed explanation-5: -This is the sum of the unemployed who are willing to work and are actively looking for a job and the unemployed who are willing to work and are not actively looking for a job, expressed as a per cent of the greater labour force.