Ask Question
BusinessBusiness
7 July, 08:12

Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people. How many million people are unemployed?

+5
Answers (1)
  1. 7 July, 08:28
    0
    20,000,000 = unemployed people

    Explanation:

    Giving the following information:

    Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people.

    The unemployment rate is the number of people of working age, disposed to work and looking for a job.

    Labor force rate = unemployed people / labor force

    0.05 = unemployed people / 400,000,000

    400,000,000*0.05 = unemployed people

    20,000,000 = unemployed people
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Suppose the exchange rate between U. S. dollars and Swiss francs is SF 1.41 = $1.00, and the exchange rate between the U. S. dollar and the euro is $1.00 = 0.70 euro.
Answers (1)
Canada has nationalized health care, so that everyone, regardless of their ability to pay, has some access to health care.
Answers (1)
John, a real estate broker, and Chris, a property owner, have entered into an agency relationship. Soon after, a dispute arose in regards to how much commission should be paid to John if he finds a buyer for Chris' property.
Answers (1)
Why do we got to pay for this stuff?
Answers (2)
Property rights are A. the rights individuals or firms have to the exclusive use of their property within individual culturally defined norms which are inconsistent in each area of the United States. B.
Answers (1)
New Questions in Business
Suppose that today, the current yield for a corporate bond is 4.3%. If the market price goes up by 11% tomorrow, compute the current yield after the increase.
Answers (1)
Determine the future amount if $240,000 is to be received 5 years from today, at 10 percent annual interest.
Answers (1)
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $87,000. The machine's useful life is estimated to be 5 years, or 400,000 units of product, with a $7,000 salvage value.
Answers (1)
Tirri Corporation has provided the following information: Cost per UnitCost per Period Direct materials$7.35 Direct labor$3.55 Variable manufacturing overhead$1.40 Fixed manufacturing overhead $24,100 Sales commissions$1.
Answers (1)
A what type of budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year
Answers (1)
Home » Business » Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people. How many million people are unemployed?
Sign Up Forgot Password?