In an economy, the working-age population iš 100 million Uf this total, 75 million workers are employed. 4 million workers are unemployed 16 million workers are not available for work (homemakers, full-time students, etc.). 3 million workers are available for work but are discouraged and thus are not seeking work 2 million workers are available for work but are not currently seeking work due to transportation or childcare problems. The unemployment rate in this economy is %. (Round your answer to one decimal place.)
In an economy, the working-age population iš 100 million Uf this total, 75 million workers are employed. 4 million workers are unemployed 16 million workers are not available for work (homemakers, full-time students, etc.). 3 million workers are available for work but are discouraged and thus are not seeking work 2 million workers are available for work but are not currently seeking work due to transportation or childcare problems. The unemployment rate in this economy is %. (Round your answer to one decimal place.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![In an economy, the working-age population is 100 million. Of this total,
75 million workers are employed.
4 million workers are unemployed.
16 million workers are not available for work (homemakers, full-time students, etc.).
3 million workers are available for work but are discouraged and thus are not seeking work.
2 million workers are available for work but are not currently seeking work due to transportation or childcare problems.
The unemployment rate in this economy is%. (Round your answer to one decimal place.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a43e387-fd4d-41eb-844d-27144b9b6924%2F8fb70751-81cc-4452-86f3-68215f602e61%2Feke0bk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In an economy, the working-age population is 100 million. Of this total,
75 million workers are employed.
4 million workers are unemployed.
16 million workers are not available for work (homemakers, full-time students, etc.).
3 million workers are available for work but are discouraged and thus are not seeking work.
2 million workers are available for work but are not currently seeking work due to transportation or childcare problems.
The unemployment rate in this economy is%. (Round your answer to one decimal place.)
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