ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8%
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9%
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10%
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11%
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Detailed explanation-1: -Labor Force: the sum of employment and unemployment. Unemployment Rate: the number of unemployed divided by the labor force, expressed as a percentage.
Detailed explanation-2: -Terms in this set (20) Assuming the total population is 100 million, the civilian labor force is 50 million, and 47 million workers are employed, the unemployment rate it: 6 percent.
Detailed explanation-3: -Terms in this set (10) The unemployment rate is calculated by dividing the number of unemployed people by the potential labor force, and then times 100 to get the percentage of people unemployed.
Detailed explanation-4: -Assuming the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, the unemployment rate is: 4 percent.