In September there are 10,000 people classified as unemployed and the size of the labor force is 400,000. The only change between September and October is that 4,000 of the unemployed give up looking for work. Which of the following is true? Group of answer choices In September the unemployment rate was 5% and in October the unemployment rate was 4%. In September the unemployment rate was 2.5% and in October the unemployment rate was 1.5%. In September the unemployment rate was 1.75% and in October the unemployment rate was 0.75%. In September the unemployment rate was 4% and in October the unemployment rate was 1%.
In September there are 10,000 people classified as unemployed and the size of the labor force is 400,000. The only change between September and October is that 4,000 of the unemployed give up looking for work. Which of the following is true? Group of answer choices In September the unemployment rate was 5% and in October the unemployment rate was 4%. In September the unemployment rate was 2.5% and in October the unemployment rate was 1.5%. In September the unemployment rate was 1.75% and in October the unemployment rate was 0.75%. In September the unemployment rate was 4% and in October the unemployment rate was 1%.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In September there are 10,000 people classified as unemployed and the size of the labor force is 400,000. The only change between September and October is that 4,000 of the unemployed give up looking for work. Which of the following is true?
Group of answer choices
In September the unemployment rate was 5% and in October the unemployment rate was 4%.
In September the unemployment rate was 2.5% and in October the unemployment rate was 1.5%.
In September the unemployment rate was 1.75% and in October the unemployment rate was 0.75%.
In September the unemployment rate was 4% and in October the unemployment rate was 1%.
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Unemployment is the situation of one who is capable of working and seeking work but is unable to find any work.
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