If the Number Employed Is 17

question 129

Multiple Choice

If the number employed is 17.5 million, the working-age population is 28.5 million, and the number unemployed is 1.4 million, then the unemployment rate is

• A)7.4%.
• B)8%.
• C)5%.
• D)4.7%.
• E)61%.

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Definitions:

Inflation

The rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of currency.

Job Security

The probability that an individual will retain their job over a prolonged period without the risk of becoming unemployed.

Mechanized Agriculture

The use of advanced machinery and equipment in farming to increase efficiency, productivity, and scalability of agricultural operations.