If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then the number of people employed is equal to:

Question

BlackTom AI · Accepted Answer

To tackle this question, I’ll break down the steps and inspect each answer choice.
First, recall the relationship: unemployment rate = (number unemployed) / (total labor force) × 100.
From the data given, the number of unemployed people is 6 million and the unemployment rate is 6%.
Using the formula, labor force = 6 million ÷ 0.06 = 100 million people.
Next, total labor force equals the sum of employed and unemployed individuals, so employed = labor force − unemployed = 100 million − 6 million = 94 million.
Now evaluate each option:
- Option a: 100 million. This would imply employed plus unemployed equals 100 million, but we know the labor force is 100 million and unemployed are 6 million, so employed would be 94 million, not 100. Therefore this is inconsistent with the given unemployment count.
- Option b: 106 million. This exceeds the calculated labor force of 100 million, which is impossible since employed cannot exceed total labor force. This option misinterprets the relationship between labor force, employed, and unemployed.
- Option c: 6 million. Claiming 6 million employed would ignore the 6 million unemployed to sum to the 100 million labor force; that would leave 94 million unemployed, which contradicts the provided 6% unemployment rate.
- Option d: 94 million. This matches the derived employed figure from labor force 100 million minus 6 million unemployed, aligning with the given unemployment rate and counts.
In summary, by determining the labor force from the unemployment rate and then subtracting the number unemployed, we obtain 94 million employed. The other options fail to satisfy the fundamental relationships between employed, unemployed, and labor force, either by overestimating the labor force, misallocating counts, or ignoring the given unemployment rate.

Econ 13 Ch 9 (Unemployment) Homework

If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then the number of people employed is equal to:

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