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Suppose that the unemployment rate is 5%, the total working age population is 100 million, and the number of unemployed is 2.5 million. Determine (a) the participation rate; (b) the labor force; (c) the number of employed workers; (d) the employment/population ratio.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M938315

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