Table 10.1-Population and labor force data.
-In Table 10.1,what is the unemployment rate in Year 1?
A) 50 percent
B) 41.7 percent
C) 16.7 percent
D) 8.3 percent.

Question

Table 10.1-Population and labor force data. 
-In Table 10.1,what is the unemployment rate in Year 1?
A) 50 percent 
B) 41.7 percent 
C) 16.7 percent 
D) 8.3 percent.

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the labor force and then multiplying by 100 to get a percentage. If in Year 1 the data shows, for example, 10 unemployed individuals out of a labor force of 60 (50 employed + 10 unemployed), the unemployment rate would be (10/60)*100 = 16.7%.

Table 10.1-Population and Labor Force Data