Suppose You Live in a Community of 100 People Where

question 165

Essay

Suppose you live in a community of 100 people where everyone is able and seeks to work.If 80 people are over 16 years old and 72 of them are employed,what is the unemployment rate in this community?

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Definitions:

International Asset Transactions

The sale, trade, or transfer of ownership rights to either real or financial assets, including currency, across international borders.

Trade Deficits

An economic measure where a country's imports exceed its exports over a certain period, indicating an outflow of domestic currency to foreign markets.

Capital and Financial Account

Components of a country's balance of payments, recording the transactions of assets and liabilities, such as direct investments, portfolio investments, and other investments across borders.

Net Exports

The value of a country's total exports minus the value of its total imports, indicating the balance of trade.