In the economy of Pandemonia, 500 people have jobs, 500 people ...

[segrsyd]

In the economy of Pandemonia, 500 people have jobs, 500 people are not working but are searching for work, and 1500 people don't work and don't seek work. The unemployment rate is
 
  A) 10 percent.
  B) 40 percent.
  C) 50 percent.
  D) 66 percent.
  E) none of the above.

Question 2

The unemployment rate is obtained by
 
  A) dividing the number of employed people by the number of unemployed people.
  B) dividing the number of employed people by the noninstitutional population.
  C) dividing the number of unemployed people by the noninstitutional population.
  D) dividing the number of unemployed people by the civilian labor force.

[firehawk60]

Answer to Question 1

C

Answer to Question 2

D

[segrsyd]

Wow, this really help

[billybob123]

Thanks for the timely response, appreciate it