Answer:
a. 8.3%
Step-by-step explanation:
Unemployment rate is the percentage of unemployed people amongst those who are available for work (labour force participation) not just the entire population.
So firstly we find the people who are available for work from the total population =
Then we find the unemployment rate:
The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force, not the total adult population. In the scenario given, the unemployment rate is 8.3%.
The question asks for the calculation of the unemployment rate given an adult population of 4 million, 0.25 million unemployed, and a labor-force participation rate of 75%. It's essential to note that the unemployment rate is calculated as the number of unemployed people divided by the people in the labor force, not the total adult population.
In this case, considering the labor-force participation rate is 75%, we need to first calculate the total labor force. 75% of the adult population equals 3 million individuals (0.75 * 4 million). After that, the unemployment rate can be calculated by dividing the number of unemployed individuals by the labor force and then multiplied by 100 to get it in percentage terms. This results in (0.25 million / 3 million) * 100 = 8.3%
So, the answer is a. 8.3% is the unemployment rate.
#SPJ3