📚 Learning Guide
Calculating Unemployment Rate
easy

Rank the following steps in the process of calculating the unemployment rate from first to last: A) Determine the total number of unemployed individuals, B) Calculate the total labor force, C) Divide the number of unemployed by the total labor force, D) Multiply the result by 100 to get the percentage.

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Learning Path

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Choose the Best Answer

A

A → B → C → D

B

B → A → C → D

C

C → A → B → D

D

A → C → B → D

Understanding the Answer

Let's break down why this is correct

Answer

To calculate the unemployment rate, you start by determining the total number of unemployed individuals. Next, you calculate the total labor force, which includes both employed and unemployed people. After you have both numbers, you divide the number of unemployed individuals by the total labor force to find the proportion of unemployed people. Finally, you multiply that result by 100 to convert it into a percentage. For example, if there are 10 unemployed people and the total labor force is 100, the unemployment rate would be (10/100) * 100, which equals 10%.

Detailed Explanation

First, we find out how many people are unemployed. Other options are incorrect because This option suggests starting with the total labor force before knowing how many are unemployed; This option puts division before finding the number of unemployed and the labor force.

Key Concepts

Unemployment Rate Calculation
Labor Force Participation
Economic Indicators
Topic

Calculating Unemployment Rate

Difficulty

easy level question

Cognitive Level

understand

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