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If the active population is 50 million and unemployed is 5 million what is the...

Economics
JAMB 2008

If the active population is 50 million and unemployed is 5 million what is the unemployment rate?

  • A. 10%
  • B. 45%
  • C. 55%
  • D. 90%
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Correct Answer: Option A
Explanation

Unemployment rate id given as;

Number of unemployed people 
   Total active population

\(\frac{5}{50}\) X 100 = 10%

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