Question
In: Economics
After a financial crisis hits the country of Cinfuria, 2 million people become unemployed. If 75...
After a financial crisis hits the country of Cinfuria, 2 million
people become unemployed. If 75 million indviduals are lucky enough
to keep their jobs, what is the unemployment rate? Please specify
your answer to two decimal places.
Solutions
Expert Solution
Labor Force = Unemployed + Employed
Labor Force = 2 + 75 = 77
Unemployment rate =( Unemployed / Labor Force ) * 100
Unemployment rate = (2/77) * 100
Unemployment rate = 2.59 %
Rahul Sunny answered 2 years agoRelated Solutions
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