1.1. The small country of Nederland counts its unemployed using the same methods as the European Union....

Question:

1.1. The small country of Nederland counts its unemployed using the same methods as the European Union. Of the population of 350 people, 70 are under age 15, 190 are employed in paid work, and 70 are adults who are not doing paid work or looking for work because they are doing full time family care, are disabled, or are in school. 10 are above the age of 75 and retired. The rest are unemployed. (No one is institutionalized, and the country has no military.) Calculate the following:

a. The number of unemployed

b. The size of the labor force

c. The unemployment rate

d. The labor force participation rate (overall, for both sexes)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics In Context: A European Perspective

ISBN: 125382

1st Edition

Authors: Sebastian Dullien, Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, Mariano Torras

Question Posted: