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What Was the Unemployment Rate in 2004 in Table 6

question 140

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What was the unemployment rate in 2004 in Table 6.1? Table 6.1
200420052006 Working Age Population 200 million 225 million 275 million  Labor Force 150 million 165 million 200 million  Unemployed 5 million 15 million 35 million \begin{array}{|l|r|r|r|}\hline& 2004 & 2005 & 2006 \\\hline \text { Working Age Population } & 200 \text { million } & 225 \text { million } & 275 \text { million } \\\hline \text { Labor Force } & 150 \text { million } & 165 \text { million } & 200 \text { million } \\\hline\text { Unemployed } & 5 \text { million } & 15 \text { million } & 35 \text { million } \\ \hline\end{array}

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Definitions:

Marginal Propensity

The tendency of a person to spend an additional unit of currency; often relates to income in the context of marginal propensity to consume or save.

Simple Multiplier

The ratio used to estimate the proportional amount of increase, or decrease, in final income that results from an injection, or withdrawal, of spending.

Marginal Propensity

The rate at which an individual, household, or economy is likely to consume (or save) with respect to an incremental increase in income.

Multiplier

An economic factor that quantifies the impact of increased spending in the economy, leading to a proportional increase in income and consumption.

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