Question

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed? a. 1.425 million b. 1.5 million c. 2.5 million d. 5 million

Answer 1

Answer:

The Answer is b. 1.5Million

Step-by-step explanation:

Adult Population = 50 Million

Labor-Force Rate = 60%

Total Labor Force of Adult population = 50Million*60% = 30Million

Unemployment Rate = 5%

People Unemployment =

Total Labor force of Adult population * Unemployment rate

People Unemployment = 30Millon*5%

People Unemployment = 1.5Million