The percentage of the labour force that is unemployed is the ?
Correct answer: B. Unemployment rate
- A. Unemployment population ratio.
- B. Unemployment rate
- C. employment rate
- D. Labour force rate.
Explanation
The unemployment rate is calculated as unemployed people divided by the labour force, expressed as a percentage. The labour force includes both employed and unemployed people actively available for 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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