Ask Question
BusinessBusiness
25 March, 23:48

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:

+3
Answers (1)
  1. 26 March, 02:03
    0
    Unemployment rate is 25%

    Explanation:

    The percentage of people eligible for job and not currently involved in paid work or self employed and available for work as well is called rate of unemployment. It is the percentage of people who is not currently woking seeking the job.

    Labor Force = Employed persons + Unemployed persons

    Labor Force = 24 million + 8 million

    Labor Force = 32 million

    Unemployment rate = (Unemployed persons / Labor force) x 100

    Unemployment rate = (8 million / 32 million) x 100 = 25%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
On September 1, 2020, Pina Corporation acquired Kingbird Enterprises for a cash payment of $690,000. At the time of purchase, Kingbird's balance sheet showed assets of $570,000, liabilities of $230,000, and owners' equity of $340,000.
Answers (1)
What is the most common threat to information security in an organization?
Answers (1)
A company is in its first month of operations. The company pays total salaries to its employees of $600 per day. For the first four weeks of January (28 days), the company paid its employees $16,800 cash.
Answers (1)
Macroeconomics is the study of how individuals, households, firms, and governments make choices, while microeconomics is the study of the economy as a whole. b.
Answers (1)
Pam didn't go see the movie IT because her friends all said she wouldn't be able to handle it. When she found out how good it was, she blamed her friends. Pam is demonstrating an internal locus of control. True / False.
Answers (1)
New Questions in Business
Used to access a list of sales and expense transactions A customer in the Sample Company A vendor in the Sample Company Matching a banking transaction with a QBO transaction Bank deposits not yet recognized Bank charges not yet recognized Exist for
Answers (1)
A company expects the following sales for the coming year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units 50,000 40,000 70,000 90,000 Average selling price $6 $6 $6 $8 Budgeted sales revenue for the year is: a.$1,050,000. b.
Answers (1)
Tangshan China Company's stock is currently selling for $80.00 per share. The expected dividend one year from now is $4.00 and the required return is 13 percent.
Answers (1)
18. What was a major factor in the failure of (mostly) command economies? A. Lack of voting rights B. Lack of the profit motive C. Not enough military spending D. Abundant basic goods
Answers (2)
You are saving to buy a $188,000 house. There are two competing banks in your area, both offering certificates of deposit yielding 7.3 percent.
Answers (1)
Home » Business » If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:
Sign Up Forgot Password?