SOLVED

Refer to the information provided in Table 7.2 below to answer the questions that follow.  Table 7.2 11) Refer to Table 7.2. The labor force A) equals 200 million. B) equals 130 million. C) equals 120 million D) equals 110 million. 12) Refer to Table 7.2. The total number of people unemployed is A) 10 million. B) 8 million. C) 6 million. D) 3 million. 13) Refer to Table 7.2. The total number of people employed is A) 190 million. B) 120 million. C) 114 million. D) 57 million. 14) The unemployment rate is calculated as A) (employed – labor force)/employed × 100. B) (employed – unemployed)/labor force × 100. C) unemployed/population × 100. D) (labor force – employed)/labor force × 100. 15) The number of people classified as employed is 390,000 and the number of people classified as unemployed is 70,000. The size of the labor force A) equals 320,000. B) equals 390,000. C) equals 460,000. D) equals 480,000. 16) The number of people classified as employed is 500,000 and the number of people in the labor force is 550,000. The total number of people classified as unemployed is A) 11,000. B) 50,000. C) 500,000. D) 550,000. 17) If the number of people classified as unemployed is 10,000 and the number of people classified as employed is 300,000, what is the unemployment rate? A) 3.2% B) 3.0% C) 2.4% D) 1.5% 18) If the number of people classified as unemployed is 5,000 and the number of people classified as employed is 45,000, what is the unemployment rate? A) 4.5% B) 5.0% C) 9.5% D) 10% 19) If the number of people employed is 240,000 and the labor force is 250,000, the unemployment rate is A) 2.4%. B) 2.9%. C) 4.0%. D) 4.7%. 20) If the unemployment rate is 7% and the number of people employed is 300,000, total number of people unemployed is approximately A) 21,000 people. B) 22,580 people. C) 23,330 people. D) 42,050 people.