What is the unemployment rate in this economy

Reference no: EM133289261

Assignment:

Consider an economy with a population of 100,000. Of these 20,000 are retired, 15,000 are fulltime students, 15,000 are children under the age of 16, and 10,000 are stay-at-home parents. Of the remainder, all have jobs except for 4,000 who are currently looking for work. Assume that 10,000 of the full-time students lose financial aid and find jobs. Assuming nothing else happens, what is the unemployment rate in this economy?

Reference no: EM133289261

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