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1. Assume that a survey of households revealed that the non-institutional population 16 years and older is 250 million. Of that group, 100 million are
1. Assume that a survey of households revealed that the non-institutional population 16 years and older is 250 million. Of that group, 100 million are working full-time and 50 million are working part-time. 15 million of the part-time workers said that they would prefer to be working full-time while the other 35 million prefer to be working part-time. Of the people who are not working, 11 million said that they want to work. 7 million of the people wanting to work either had a job interview or submitted a resume during the last 4 months, while the other 4 million did not take any active steps to find employment during the month. Given this information, find the a. unemployment rate b. labor force participation rate (2. L15 measure of labor utilization d. u6 measure of labor utilization
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