Question

D D. underemployed 10 If the unemployment rate is 8 percent, then this means O A. 8 percent of the population is unemployed. B. 8 percent of the population age over sixteen is unemployed O c. 8 percent of the labor force is unemployed. D D. the number of unemployed persons equals 8 percent of the employed persons. 1 po If the number of employed persons in a country equals 24 million, the number of unemployed persons equals & millio number of persons over age 16 in the population equals 40 million, the unemployment rate equals

Answer 1

Question 10

Unemployment rate is calculated as follows -

Unemployment rate = (Number of unemployed/Labor force) * 100

This formula indicates that the unemployment rate states the percentage of labor force that is unemployed.

So,

If the unemployment rate is 8 percent, then this means that 8 percent of the labor force is unemployed.

Hence, the correct answer is the option (C).