If there are 2,000 people in the population; 950 are employed; 50 are unemployed, what is the unemployment rate? 5.3% 2.5% 7.4% 5%

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section6.1: Measuring The Price Level
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If there are 2,000 people in the population; 950 are employed; 50 are unemployed, what is the
unemployment rate?
5.3%
2.5%
7.4%
5%
Transcribed Image Text:If there are 2,000 people in the population; 950 are employed; 50 are unemployed, what is the unemployment rate? 5.3% 2.5% 7.4% 5%
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