The country of Freedonia uses the same method to calculate the unemployment rate as the U.S. Bureau

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The country of Freedonia uses the same method to calculate the unemployment rate as the U.S. Bureau of Labor Statistics uses. From the following data, compute Freedonia’s unemployment rate.

Population................................................................................. 10,000,000
Under 16...................................................................................... 3,000,000
Over........................................................................................................... 16
In military service........................................................................... 500,000
In hospitals .....................................................................................200,000
In prison ..........................................................................................100,000
Worked one hour or more in previous week...........................4,000,000
Searched for work during.......................................................... 1,000,000
previous four weeks

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Macroeconomics Principles and Applications

ISBN: 978-1111822354

6th edition

Authors: Robert E. Hall, Marc Lieberman

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