Question

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals: A. 32%. B. 25%. C. 20%. D. 8%.

Answer 1

Answer:

B. 25%

Explanation:

Given that

employed persons = 24 million

unemployed persons = 8  million

Population over 16 age = 40  million

The total number of the labor force = unemployed persons + employed persons

  The total number of the labor force   = 24 + 8 = 32 million

$Unemployed\ rate = \dfrac{unemployed\ population}{ labor force}\times 100$

$Unemployed\ rate = \dfrac{8}{32}\times 100$

Unemployed rate = 25 %

Therefore the answer is B.

B. 25%