Table 10.1-Population and labor force data.
-In Table 10.1,what is the unemployment rate in Year 10?
A) .05 percent
B) 10 percent
C) 45 percent
D) 50 percent

Question

Table 10.1-Population and labor force data. 
-In Table 10.1,what is the unemployment rate in Year 10?
A) .05 percent 
B) 10 percent 
C) 45 percent 
D) 50 percent

Quizplus · Accepted Answer

To calculate the unemployment rate, we need to use the formula:

Unemployment Rate = Unemployed / Labor Force

In Year 10, the number of unemployed persons is 5,000 and the labor force is 50,000, so:

Unemployment Rate = 5,000 / 50,000 = 0.1

Multiplying by 100 to convert to a percentage, we get:

Unemployment Rate = 10%

Therefore, the answer is B, 10 percent.

Table 10.1-Population and Labor Force Data