Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose an economy has 100 citizens of which 20 are unemployed and 75 are employed. What is the unemployment rate? Now suppose 45 people drop
Suppose an economy has 100 citizens of which 20 are unemployed and 75 are employed. What is the unemployment rate? Now suppose 45 people drop out of the labor force. What is the new unemployment rate? O a) 475% ; 250% O b) 21%; 40% O c) 44%; 1.6% O d) 16.6%; 62.5%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started