The number of people classified as employed is 350,000 and the number of people in the labor force is 500,000

Economics Nov 21, 2020

The number of people classified as employed is 350,000 and the number of people in the labor force is 500,000. The total number of people classified as unemployed is Select one: a. 150,000. O b. 425,000 OC. 350,000 O d. 500,000

Expert Solution

A. 150,000

Explanation :

Labor force =unemployed +employed

500,000=unemployed +350,000

500,000-350,000=unemployed

Unemployed =150,000.

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