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Mumz [18]
3 years ago
6

Suppose the labor force is 189 million of a possible 244 million working-age adults. The total number of unemployed is 15 millio

n. What
is the standard unemployment rate?
Mathematics
1 answer:
denpristay [2]3 years ago
7 0

Answer:

The standard unemployment rate is of 0.0794 = 7.94%.

Step-by-step explanation:

The standard unemployment rate, as a proportion, is the number of unemployed people divided by the size of the labor force.

In this question:

Labor force: 189 million

Number of unemployed people: 15 million

What is the standard unemployment rate?

15/189 = 0.0794

The standard unemployment rate is of 0.0794 = 7.94%.

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