In an economy, the working-age population is 300 million. Of this total, 240 million workers are employed. 9 million workers are unemployed. 42 million workers are not available for work (homemakers, full-time students, etc.). 6 million workers are available for work but are discouraged and thus are not seeking work. 3 million workers are available for work but are not currently seeking work due to transportation or childcare problems.
The unemployment rate in this economy is:
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In an economy, the working-age population is 300 million. Of this total, 240 million workers are emp...
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