Question

Ten thousand people in Oakville (population 100,000) do not have jobs. An economist would say that Oakville has a(n) _______ of 10 percent.

Labor force
Unemployment rate

Answer 1

unemployment rate is the correct answer

Answer 2

The correct answer for the given question would be Unemployment rate.

Explanation:

• In general,unemployment rate is calculated by dividing the actual number of unemployed people in a particular place,region,country etc. by the overall or total population of that specific place,region,country etc. within a specific or particular period of time.
• In this question,the total population of Oakville is 100,000 and the number of actual people without any job is 10,000
• Hence,unemployment rate of Oakville=$\frac{10,000}{100,000} =0.10$ or 10%.