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3. As of July 2018 Greece's labor force participation rate was 52%, and the unemployment rate was 19%. The number of employed people was 3.8

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3. As of July 2018 Greece's labor force participation rate was 52%, and the unemployment rate was 19%. The number of employed people was 3.8 million, and the population was 10.8 mil- lion people. a. How many people are in the labor force? (10 points) Hint: Draw the concentric circles diagram from the Powerpoint if you get stuck here. b. How many people are in the adult population? (10 points) C. Part of Greece's fiscal trouble is its generous pension program. If people who could otherwise work are not working because they are receiving a pension, is this part of the high unemployment rate, or the low labor force participation rate? Why? (5 points)

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