Question

The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civilian labor force is 150 million. The number of unemployed workers in this economy is:
1. 6 million
2. 9 million
3. 12 million
4. 24 million

Answer 1

Answer:

2. 9 million

Explanation:

We know that

Unemployment rate = Number of unemployed workers ÷ Civilian labor force

6% = Number of unemployed workers ÷ 150 million

So, the number of unemployed workers would be

= 150 million × 6%

= 9 million

We simply applied the unemployed rate so that the number of unemployed workers could come

All other information given is of no significance. So, ignored it