If Jupiter has a population of 300,000 people, a labor force of 250,000 people, and 220,000 are employed, what is the unemployment rate?Hint: Find the employment rate. How is it related to the unemployment rate? Question 8Answer a. 16% b. 10% c. 14% d. 12%

If Jupiter has a population of 300,000 people, a labor force of 250,000 people, and 220,000 are employed, what is the unemployment rate?Hint: Find the employment rate. How is it related to the unemployment rate? Question 8Answer a. 16% b. 10% c. 14% d. 12%

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 2WNG

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Question

If Jupiter has a population of 300,000 people, a labor force of 250,000 people, and 220,000 are employed, what is the unemployment rate?

Hint: Find the employment rate. How is it related to the unemployment rate?

Question 8Answer

16%

10%

14%

12%

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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