In a Country with a Population of 20 Million, There

question 97

Multiple Choice

In a country with a population of 20 million, there are 8 million employed and 2 million unemployed. What is the unemployment rate?

• A) 2 percent
• B) 10 percent
• C) 20 percent
• D) 25 percent
• E) none of the above

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Definitions:

Solved

A situation or problem that has been resolved, answered, or dealt with successfully.

Shadow Price

An estimated price for something that is not normally bought or sold in the market, often used in constrained optimization to value the cost of using an additional unit of a scarce resource.

Maximization Problem

A type of optimization that involves finding the maximum value of a function within a given domain, often subject to constraints.

Marginal Gain

The additional benefit or improvement gained from producing or consuming one more unit of a product or service.