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Given the population, labor force, unemployment rate, find out number of employed, unemployed, and employment rate.

Suppose the following data describe hypothetical country's population:

Year 1 Year 2 Year 3
Population 247 000 000 259 000 000 263 000 000
Labor force 141 000 000 144 000 000 156 000 000
Unemployment rate 5% 5% 5.5%

1. How many people are unemployed in each year?

2. How many people are employed each year?

3. Compute the employment rate (i.e., number employed : population) in each year

4. Illustrate how can employment rate may go-up or down in the unemployment rate stays the same? describe how can employment rate go up if unemployment rate also goes up?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M922105

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