Suppose the Utopian economy has the following characteristics: ...

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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.

[gstein359]

Answer to Question 1

B

Answer to Question 2

A

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TYSM

[miss_1456@hotmail.com]

Thanks for the timely response, appreciate it