Edna, who lost her job as a teacher and is currently searching Unemployed 7 Total Population 145 {:[" Employed or "],[" seeking work "]:} 80 {:[" Discouraged "],[" Workers "]:} 3 What's the unemployment rate for the above economy? A) 4.76 percent B) 8.75 percent C) 5.0 percent D) 6.9 percent

Edna, who lost her job as a teacher and is currently searching Unemployed 7 Total Population 145 {:[" Employed or "],[" seeking work "]:} 80 {:[" Discouraged "],[" Workers "]:} 3 What's the unemployment rate for the above economy? A) 4.76 percent B) 8.75 percent C) 5.0 percent D) 6.9 percent

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 30CTQ: Using the definition of the unemployment rate, is an increase in the unemployment rate necessarily a...

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Question

A) 4.76 percent

B) 8.75 percent

C) 5.0 percent

D) 6.9 percent

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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