If the non-institutional population over 16 years of age equals 200 million, the number of individuals employed is equal to 60 million and the number of individuals not in the labor force is equal to 120 million, then:
a. The employment rate is equal to 30%, and the unemployment rate cannot be determined.
b. The employment rate is equal to 75%, and the unemployment rate cannot be determined.
c. The employment rate is equal to 30%, and the unemployment rate is equal to 10%.
d. The employment rate is equal to 30%, and the unemployment rate is equal to 25%.
e. The employment rate is equal to 30%, and the unemployment rate is equal to 33.3%.
.D
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Refer to Table 11.1. If the marginal propensity to consume decreases to 0.05 (MPC = 0.05), what is the new equilibrium level of output?
A) 2,366.67 B) 3,166.67 C) 3,550.00 D) 4,750.00
The income effect of a price change refers to the change in the quantity demanded of a good that results from a change in the price of a substitute product
Indicate whether the statement is true or false