Please help solve Suppose that the unemployment rate is 5%, the total workingage population is 200 million, and the number of unemployed is 7.5million. Determine the employment-population ratio. (Write the answer without the percentage sign. If your answer is XX.y%,write XX.y)Type your numeric answer and submit

Unemployment rate = number of unemployed *100 / labor force 5 = 7.5*100/labor force Labor force =…

Answered: Suppose that the unemployment rate is…

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

Problem 2ST

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Suppose that the unemployment rate is 5%, the total working age population is 200 million, and the number of unemployed is 7.5 million. Determine the employment-population ratio. (Write the answer without the percentage sign. If your answer is XX.y%, write XX.y) Type your numeric answer and submit