Question

Statistics

Posted 2 months ago

```
The table below shows employment data for the country of Gerbilville.
\begin{tabular}{ll}
Status & $\#$ of people \\
\hline Adult population & 1,000 \\
Employed & 600 \\
Not working but seeking employment & 150 \\
Not working and not seeking employment & 250
\end{tabular}
Which of the following calculations correctly determines the unemployment rate in Gerbilville?
Choose 1 answer:
(A) $\frac{150}{750} \times 100=20 \%$
(B) $\frac{600}{1,000} \times 100=60 \%$
(c) $\frac{150}{1,000} \times 100=15 \%$
(D) $\frac{250}{1,000} \times 100=25 \%$
() $\frac{150}{600} \times 100=25 \%$
Report a probler
```

Sign in to unlock the answer

Answer from Sia

Posted 2 months ago

Solution by Steps

step 1

Identify the relevant data for calculating the unemployment rate: the number of people not working but seeking employment and the labor force (the sum of employed and those not working but seeking employment)

step 2

Calculate the labor force: $Labor\ Force = Employed + Not\ working\ but\ seeking\ employment = 600 + 150 = 750$

step 3

Calculate the unemployment rate using the formula: $Unemployment\ Rate = \frac{Not\ working\ but\ seeking\ employment}{Labor\ Force} \times 100$

step 4

Substitute the values into the formula: $Unemployment\ Rate = \frac{150}{750} \times 100 = 20\%$

Answer

A

Key Concept

Unemployment Rate Calculation

Explanation

The unemployment rate is calculated by dividing the number of unemployed individuals actively seeking employment by the total labor force and then multiplying by 100 to get a percentage.

Not the question you are looking for? Ask here!

Enter question by text

Enter question by image

Upgrade to Asksia Pro

Join a AskSia's Pro Plan, and get 24/7 AI tutoring for your reviews, assignments, quizzes and exam preps.

Unlimited chat query usages

Strong algorithms that better know you

Early access to new release features

Study Other Question