Ct7-10 (Macroeconomics) Q10.2

[MissAussie]

Q10.2 says "In a country with a population of 30 million ppl:
- there are 20 million in the total workforce
- 1 million unemployed
What is the country's unemployment rate?"

Now, directly above this question is the definition that unemployment is defined as:
(no. of unemployed)/(no. of employees + self-employed + unemployed + armed forces)

So in answer to Q10.2, I calculated an unemployment rate of 1/21 = 4.77%
But the answer is actually 1/20 = 5%.

Have I missed something?

Thanks in advance

 

[manifold]

Yeah, Dukerio's got it. The key is that it says total work force, rather than total number in employment (they refer to the labour force when they're defining the rate of unemployment in the paragraph above).

 

[MissAussie]

oh yeah..... i feel silly now.

Thanks for the responses. I hate these sort of trick questions where the answer hinges on you knowing the exact way something is defined... but that's ok, i'm learning now!