Question

Suppose the town of Treeville has a population of 200, of which 120 are in the labor force. Of those in the labor force, 100 are employed and 20 are unemployed. The unemployment rate in Treeville is

Answer 1

The unemployment rate in Treeville is 16.7% and the share of the population in the labor force is 60%. A pie chart can be used to represent the employed, unemployed, and population outside the labor force.

Step-by-step explanation:

To find the unemployment rate, we can divide the number of unemployed people by the labor force and multiply by 100. In this case, the labor force is 120 (the number of people in the labor force) and the number of unemployed people is 20. So, the unemployment rate is (20/120) * 100 = 16.7%.

To determine the share of the population in the labor force, we can divide the labor force by the total population and multiply by 100. The population in Treeville is 200 and the labor force is 120. Therefore, the share of the population in the labor force is (120/200) * 100 = 60%.

To sketch a pie chart, we can represent the employed population as a slice, the unemployed population as another slice, and the population outside the labor force as a third slice. The sizes of the slices would be 100 (employed), 20 (unemployed), and 80 (population outside the labor force) respectively.