Use the following data to calculate a the size of the labor, Ask an Expert

Economics

Use the following data to calculate (a) the size of the labor force, (b) the official unemployment rate, and (c) the labor force participation rate (defined in Ch. 3) for a hypothetical economy with: Population=500 Population 16 years or older and noninstitutionalized=400 People employed full or part time=200 People unemployed and actively seeking work=20 People who have quit seeking work due to lack of success=10 Part time workers seeking full time jobs=30 Note: Omit the existence of the 30 part time works seeking full time jobs

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91858103

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