After the financial crisis that hits the country of Barbaria in 2012, a total of 7 million people are unemployed. If 45 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to two decimal places. Unemployment rate->

After the financial crisis that hits the country of Barbaria in 2012, a total of 7 million people are unemployed. If 45 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to two decimal places. Unemployment rate->

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

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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Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

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Macmillan Learning
After the financial crisis that hits the country of Barbaria in 2012, a total of 7 million people are unemployed.
If 45 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to two
decimal places.
Unemployment rate=

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