Here is some data for an economy. Population: 22.5 million Population under the age of 16 years: 7.5 million Discouraged workers: 250,000. Retired people: 1 million Structurally unemployed people: 320,000 Frictionally unemployed people: 220,000 Cyclically unemployed people: 2.2 million Based on this data, what is the approximate unemployment rate in this economy? Answers: 16% 19.6% 19.93% 80.07%

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