The composition of the adult population in an economy is: Employed: 140 million; Unemployed: 10 million; Not in labour force: 50 million. The rate of unemployment is ________ % (rounded off to two decimal places).
1 markMacroeconomicsInflation, unemployment and the Phillips curveMeasuring unemploymentModerateabout 2 min
IIT JAM 2025 Question 46: Inflation, unemployment and the Phillips curve
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Inflation, unemployment and the Phillips curve has come up 106 times in 7 exams since 2006.
What this question tests
This question is on Measuring unemployment, part of Inflation, unemployment and the Phillips curve in Macroeconomics.
How the unemployment rate is defined and computed, and the types of unemployment.
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