Economics Q147
147The following information applies to an economy:
| Total population | 2,200 |
| Working age population | 1,950 |
| Labor force | 1,500 |
| underemployed | 240 |
| unemployed | 190 |
| Discouraged workers | 160 |
| Frictionally unemployed | 50 |
| Voluntarily unemployed | 80 |
The unemployment rate in the economy is closest to:
- Option : C
- Explanation : Unemployment rate = (Unemployed / Labor force) * 100 = (190 / 1500) * 100 = 12.6%.
