Suppose an economy is given by the following: Population = 216 million Labor force = 171 million The number of people employed = 157.3 million The number of people unemployed = 13.7 million Given the information above, the unemployment rate is %. (Enter your response rounded to one decimal place.)

Suppose an economy is given by the following: Population = 216 million Labor force = 171 million The number of people employed = 157.3 million The number of people unemployed = 13.7 million Given the information above, the unemployment rate is %. (Enter your response rounded to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose an economy is given by the following:
Population = 216 million
Labor force = 171 million
The number of people employed = 157.3 million
The number of people unemployed = 13.7 million
Given the information above, the unemployment rate is
%. (Enter your response rounded to one decimal place.)

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