Answer:
The standard unemployment rate is of 0.0794 = 7.94%.
Step-by-step explanation:
The standard unemployment rate, as a proportion, is the number of unemployed people divided by the size of the labor force.
In this question:
Labor force: 189 million
Number of unemployed people: 15 million
What is the standard unemployment rate?
15/189 = 0.0794
The standard unemployment rate is of 0.0794 = 7.94%.
