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1. Labor Market Indicators (15 points, 5 points each) Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40

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1. Labor Market Indicators (15 points, 5 points each) Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired 40 Unemployed 5 Use the data in the above table to: a) Calculate the unemployment rate. b) Calculate the labor force participation rate. C ) Calculate the employment-to-population ratio

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