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7. With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force = 20 million; number of people unemployed = 1.5 million: population = 30 milion. b. Number of people employed = 14 million; labour force = 16 million. c. Number of people unemployed = 900000; number of people employed = 2.25 million. d. Labour force = 8.2 million; number of people unemployed 500000; population 13.5 million. =

7. With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force = 20 million; number of people unemployed = 1.5 million: population = 30 milion. b. Number of people employed = 14 million; labour force = 16 million. c. Number of people unemployed = 900000; number of people employed = 2.25 million. d. Labour force = 8.2 million; number of people unemployed 500000; population 13.5 million. =

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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7. With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force = 20 million; number of people unemployed = 1.5 million; population = 30 milion. b. Number of people employed = 14 million; labour force = 16 million. c. Number of people unemployed = 900000; number of people employed = 2.25 million. d. Labour force = 8.2 million; number of people unemployed 500000; population 13.5 million. =
Transcribed Image Text:7. With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force = 20 million; number of people unemployed = 1.5 million; population = 30 milion. b. Number of people employed = 14 million; labour force = 16 million. c. Number of people unemployed = 900000; number of people employed = 2.25 million. d. Labour force = 8.2 million; number of people unemployed 500000; population 13.5 million. =
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