Answer:
C - It decreased by about 1%
Step-by-step explanation:
We can immediately eliminate two of the potential answers - A and B. Both answers suggest the unemployment rate increased, but the question states it actually decreased from 3.2 million to 2.5 million, so we know both of those answers are incorrect.
So we're left with options C and D.
The first thing we're going to do is figure out 1% of 74 million using this equation;
74,000,000 ÷ 100 = 740,000.
This tells us that 1% of the country's population is 740,000, and since the population didn't change during the decrease of unemployment, this is the number that will decide the percentage in our answer.
Next we're going to subtract 2.5 million from 3.2 million to find the difference between the two, and thus, the amount the unemployment rate decreased by.
3,200,000 - 2,500,000 = 700,000.
The result of that equation (700,000) already gives us our answer. If 1% of the population is 740,000, and the number the unemployment rate dropped by is 700,000, then the answer to the question is C.
The numbers can't get any closer, therefore the answer to the question is option C - It decreased by about 1%
Extra:
Just for confirmation, I'll show you what we'd have done to figure out 9%, and why it couldn't have been the answer.
To find 9% we would've either divided 74 million by 10 to get 10%, and then subtracted 1%, or we could've multiplied 1% by 9. Since we already know the value of 1%, let's go with the latter method;
740,000 (1%) × 9 = 6,660,000.
9% of 74 million is 6,660,000.
Obviously, this number is no where near to the number the unemployment rate decreased by, and therefore, could not have been the answer. Since we have eliminated options A, B and D, we know for sure the answer is C.
The country's unemployment rate decreased by about 1%, so option C. is the right choice.
Rates are always defined in percentages, determining what percent of the total quantity it is.
Rate = Given quantity/Total quantity * 100%
We are informed that the number of a country's unemployed workers decreased from 3.2 million to 2.5 million last year, which has the total population at a constant equal to 74 million.
We are asked to find the change in the unemployment rate in the last year.
First, we find the initial rate of unemployment, R1:
R1 = 3.2/74 * 100% = 0.0432432*100% = 4.32432%
Then, we find the final rate of unemployment, R2:
R2 = 2.5/74 * 100% = 0.03378*100% = 3.378%
To find the change in the unemployment rate, we need to find the difference between the final rate and the initial rate.
Change in rate = Final Rate - Initial Rate
or, Change in rate = R2 - R1
or, Change in rate = 3.378% - 4.32432% = -0.9459% ≈ -1%, the negative sign shows that the rate of unemployment has decreased.
∴ The rate of unemployment decreased by about 1% last year. So, option C. is the correct answer.
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