Assuming the total population is 100 million. the civilian labor force is 50 million. and 47 million workers are employed. the unemployment rate is ____________
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Correct Answer: Option B
Explanation:
Labour force \(=50\) million
- employed \(\quad \frac{47 \text { million }}{3 \text { million }}\)
Unemployed
\(=\frac{3}{50} \times 100 \%=6 \%\)
Labour force \(=50\) million
- employed \(\quad \frac{47 \text { million }}{3 \text { million }}\)
Unemployed
\(=\frac{3}{50} \times 100 \%=6 \%\)