Homework Answers
The population above 16 and older of the country A is=400,000
Labor force=300,000
Unemployment rate =8%
8 = (number of unemployed / 300000)*100
8*300000/100= The number of unemployed people
The number of unemployed people =24000 people
a.
Employed people = LF-Unemployed
=300000-24000
=276000 people
b.
The number of unemployed people =24000 people
c.
The labor force participation rate= ( labor force/ working age population)*100
=(300000/ 400000)*100
=75%
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