Ask Question
24 July, 11:52

In an economy, the working-age population is 300 million. Of this total, 240 million workers are employed. 9 million workers are unemployed. 42 million workers are not available for work (homemakers, full-time students, etc.). 6 million workers are available for work but are discouraged and thus are not seeking work. 3 million workers are available for work but are not currently seeking work due to transportation or childcare problems.

The unemployment rate in this economy is: ...

+1
Answers (1)
  1. 24 July, 15:44
    0
    Answer: 3.61% unemployment rate

    Explanation:

    Only those workers currently employed and unemployed make the workforce; discouraged workers, unavailable workers, or students are not considered part of the workforce.

    To calculate unemployment rate, divide unemployed peoples by the total number of people in the workforce:

    9 / 249 = 3.61% unemployment rate
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In an economy, the working-age population is 300 million. Of this total, 240 million workers are employed. 9 million workers are ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers