The percentage of the labor force that is unemployed is the ?
Correct answer: A. unemployment rate
- A. unemployment rate
- B. labor force rate
- C. employment rate
- D. unemployment population ratio
Explanation
The unemployment rate is calculated as unemployed people divided by the labour force, multiplied by 100. The labour force includes both employed and unemployed people who are actively seeking work.
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About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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