Asked by Hannah Hanson on Apr 29, 2024

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The unemployment rate is the number of people classified as unemployed as a percentage of

A) the labor force.
B) the healthy,not institutionalized population between the ages of 16 and 65.
C) the population over the age of 16.
D) the civilian population over the age of 16 who are actively employeD.

Labor Force

The total number of people employed or seeking employment in a country or region.

  • Gain insight into the formula used to calculate the unemployment rate and be aware of the limitations inherent in published statistics.
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Verified Answer

EJ
Emmanuela JosephApr 30, 2024
Final Answer :
A
Explanation :
The unemployment rate is calculated as the number of individuals who are without work but actively seeking and available for employment, divided by the total number of individuals in the labor force (i.e. those who are either employed or actively seeking employment). Therefore, the correct choice is A, as it defines the labor force which is used in the calculation of the unemployment rate. The other options are either too narrow (B and D) or too broad (C) and include individuals who are not relevant to the labor force or job market.