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24. Country As adult population is 100 million, and it is likely to increase by 5% next year. The unemployment rate is currently 5%. The economists estimate that for a 1% increase in the labor force, the number of unemployed people increases by 2%. Assume that the labor force participation rate remains the same at 60% across the years. What will be the unemployment rate next year? (a) 5.00% (b) 5.18% (c) 5.24% (d) 7.00%.

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24. Country As adult population is 100 million, and it is likely to increase by 5% next year. The unemployment rate is currently 5%. The economists estimate that for a 1% increase in the labor force, the number of unemployed people increases by 2%. Assume that the labor force participation rate remains the same at 60% across the years. What will be the unemployment rate next year? (a) 5.00% (b) 5.18% (c) 5.24% (d) 7.00%

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