1. Study the following figure of an economy Number of Persons Persons aged 15 or above s or 1,500,000 Labour force 1,000,000 Employed population 840,000 The unemployment rate of the economy is A. 10.7% B. 16% C. 56% D. 84% 2. Which of the following is a loss to the society resulting from unemployment? A. loss of income B. loss of skills of labour C. decrease in economy's output D. increase in unemployment benefit 3. Refer to the following data, calculate the unemployment rate of the Country A.
1. Study the following figure of an economy Number of Persons Persons aged 15 or above s or 1,500,000 Labour force 1,000,000 Employed population 840,000 The unemployment rate of the economy is A. 10.7% B. 16% C. 56% D. 84% 2. Which of the following is a loss to the society resulting from unemployment? A. loss of income B. loss of skills of labour C. decrease in economy's output D. increase in unemployment benefit 3. Refer to the following data, calculate the unemployment rate of the Country A.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:1. Study the following figure of an economy
Number of Persons
Persons aged 15 or above
1,500,000
Labour force
1,000,000
Employed population
840,000
The unemployment rate of the economy is
A. 10.7%
В. 16%
C. 56%
D. 84%
2.
Which of the following is a loss to the society resulting from unemployment?
A. loss of income
B. loss of skills of labour
C. decrease in economy's output
D. increase in unemployment benefit
3.
Refer to the following data, calculate the unemployment rate of the Country A.
(3 marks)
Number of Persons
Total population
7,000,000
Labour force
3,500,000
Employed population
2,950,000
Unemployed population
550,000
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