Question

After a financial crisis hits the country of Barbaria, 8 million people become unemployed. If 35 million individuals are lucky enough to keep their jobs, what is the unemployment rate

Answer 1

18.60%

Step-by-step explanation:

Total labor force = $8 million + $35 million = $43 million

Unemployment Rate = (Unemployed/Labor force)*100

Unemployment Rate = $8 million/$43 million * 100

Unemployment Rate = 0.1860465 * 100

Unemployment Rate = 18.60%