In a country with a working-age population of 22 million,16 million are employed,2 million are unemployed,and 1 million of the employed are working part-time,half of whom wish to work full-time.The unemployment rate is
A)10 percent.
B)10.3 percent.
C)11.1 percent.
D)15.4 percent.
E)none of the above.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed divided by the labor force (employed + unemployed). Here, the labor force is 18 million (16 million employed + 2 million unemployed). The unemployment rate is (2 million / 18 million) * 100 = 11.1 percent.

In a Country with a Working-Age Population of 22 Million,16