Homework Answers
(Question 1)
Working notes:
- Labor force (LF) = Employed + Unemployed
- Unemployment rate (UR) = Number unemployed / Labor force
- Labor force participation rate (LFPR) = Labor force / Adult population
(i) Japan
(A) UR = 3,500 / 66,010 = 0.0530 = 5.30%
(B) LFPR = 66,010 / 109,474 = 0.6030 = 60.30%
(ii) France
(A) Adult population = LF / LFPR = 26,870 / 0.5741 = 46,804
(B) Number employed = LF - Number unemployed = 26,870 - 2,577 = 24,293
(C) UR = 2,577 / 26,870 = 0.0959 = 9.59%
(iii) Germany
(A) Number unemployed = UR x LF = 0.0969 x 39,591 = 3,836
(B) Number employed = LF - Number unemployed = 39,591 - 3,836 = 35,755
(C) LFPR = 39,591 / 70,159 = 0.5643 = 56.43%
NOTE: As HOMEWORKLIB Answering Policy, 1st question has been answered.
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