Question

Now suppose that in the following year, the number of employed increases to 200 million, while the number of unemployed increases to 10 million. What is Flickopedia's unemployment rate now. ____________%

Answer 1

The unemployment rate in Flickopedia can be calculated by first finding the total labor force and then the unemployment rate as a percentage. With 200 million employed and 10 million unemployed, the labor force is 210 million. The unemployment rate is then 4.76%.

Step-by-step explanation:

To calculate the unemployment rate for Flickopedia with the new figures provided, we follow similar steps as given in the reference. The labor force is the sum of the employed and the unemployed, which in this case is 200 million employed plus 10 million unemployed, yielding a total labor force of 210 million people.

1. Calculate the labor force: employed + unemployed = labor force.
2. Find the unemployment rate by dividing the number of unemployed by the total labor force.
3. Multiply the result by 100 to get a percentage.

In this case:

1. Calculate the labor force: 200 million + 10 million = 210 million.
2. Calculate the unemployment rate: (10 million / 210 million) = 0.04762.
3. Multiply by 100 to convert to a percentage: 0.04762 x 100 = 4.76%.

Therefore, the unemployment rate in Flickopedia is now 4.76%.