You have created a virtual economy on your computer to try t…
You have created a virtual economy on your computer to try to mimic the interesting models we have done in this class. You and your friends are keeping employment statistics in the exact same way as the BLS, and you have the following data at your disposal: last month there were 100 million people in your virtual reality world, 60 percent were in the labor force, and 12 million people were classified as unemployed. What is the unemployment rate in your virtual reality world?