Author Question: Suppose the population is 300 million people, the labor force is 200 million people, the number of ... (Read 93 times)

imowrer · **on:** Jun 30, 2018

Suppose the population is 300 million people, the labor force is 200 million people, the number of people employed is 185 million, and the working-age population is 170 million people. What is the unemployment rate?

A) 8.8 percent B) 5 percent C) 20 percent D) 7.5 percent E) 92.5 percent

Question 2

Refer to the figure above. If the government fixes a minimum wage rate at 25, the unemployment in the market will be:

A) 10 units of labor. B) 20 units of labor. C) 30 units of labor. D) 0 unit of labor.