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6 December, 11:42

Suppose the labor force is 189 million of a possible 244 million working-age adults. The total number of unemployed is 15 million. What

is the standard unemployment rate?

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  1. 6 December, 15:17
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    The standard unemployment rate is of 0.0794 = 7.94%.

    Step-by-step explanation:

    The standard unemployment rate, as a proportion, is the number of unemployed people divided by the size of the labor force.

    In this question:

    Labor force: 189 million

    Number of unemployed people: 15 million

    What is the standard unemployment rate?

    15/189 = 0.0794

    The standard unemployment rate is of 0.0794 = 7.94%.
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