Calculate (to the nearest whole number) the unemployment rate for a country which has provided the following data: Population: 50m People aged 18-65: 30m People working: 21m People of working age who do not have jobs but are willing to work at the current wage rate: 5m People of working age who do not have jobs:7m а. 14% b. 17% C. 18% d. 23% O O O

Calculate (to the nearest whole number) the unemployment rate for a country which has provided the following data: Population: 50m People aged 18-65: 30m People working: 21m People of working age who do not have jobs but are willing to work at the current wage rate: 5m People of working age who do not have jobs:7m а. 14% b. 17% C. 18% d. 23% O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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