Economics · Unemployment
Which of the following expressions correctly defines the unemployment rate?
- 1Unemployment rate = Number of unemployedAdult Population × 100
- 2Unemployment rate = Number of unemployedNumber of employed + Number of unemployed × 100✓
- 3Unemployment rate = Labour ForceAdult Population × 100
- 4Unemployment rate = Number of employedLabour Force × 100
Correct answer
Unemployment rate = Number of unemployedNumber of employed + Number of unemployed × 100
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