Homework Answers
a) Labor force = Employed + Unemplyed = 6000 + 400 = 6400
Unemployment rate = (Unemployed / Labor Force) * 100 = (400 / 6400) * 100 = 6.25%
b) Labor force participation rate = (Labor force / Population) * 100 = (6400 / 8000) * 100 = 80%
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help Explan. 1.8 Suppose the number of employed people in an economy is 312,545,372. The unemployment...
help
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help
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