Author Question: Suppose the Utopian economy has the following characteristics: 100,000 people in the ... (Read 54 times)

plus1 · **on:** Jun 29, 2018

Suppose the Utopian economy has the following characteristics: 100,000 people in the noninstitutional population; 80,000 people employed; 20,000 people not in the labor force. What's the unemployment rate?

A) -20 percent
B) 0 percent
C) 25 percent
D) 60 percent
E) 80 percent

Question 2

Suppose the Utopian economy has the following characteristics: 100,000 people in the noninstitutional population; 80,000 people employed; 20,000 people not in the labor force. How many people are unemployed?

A) 0
B) 20,000
C) 60,000
D) 80,000
E) None of the above.