Suppose that a country has 9 million people working full-time. It also has 1 million people who
Question:
Suppose that a country has 9 million people working full-time. It also has 1 million people who are actively seeking work but are currently unemployed, along with 2 million discouraged workers who have given up looking for work and are currently unemployed.
What is this country’s unemployment rate?
a. 10 percent
b. 15 percent
c. 20 percent
d. 25 percent
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To calculate the unemployment rate we need to consider the number of unemployed individ...View the full answer
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Related Book For 
Macroeconomics
ISBN: 9781264112456
22nd Edition
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
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