Suppose the Current Unemployment Rate Is 5 Percent, the Labor

question 389

Multiple Choice

Suppose the current unemployment rate is 5 percent, the labor force is 400 million people, the labor force participation rate is 80 percent and the working-age population is 500 million people. What number of people are unemployed?

• A) 25 million people
• B) 100 million people
• C) 20 million people
• D) 5 million people

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Definitions:

Tatami Mats

Traditional Japanese straw mats used for flooring, known for their specific size and texture, contributing to the aesthetic and functionality of Japanese architecture.

Tariffs

Taxes imposed on imported goods and services aimed at increasing their price to reduce importation and protect domestic industries.

Domestic Farm Lobby

The domestic farm lobby is an advocacy group focusing on promoting the interests of farmers and agricultural producers within a country, often influencing government policies.

Government Taxes

Compulsory financial charges imposed by governments on individuals, corporations, and transactions to fund public expenses.