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4. Consider an economy with twenty individuals. Angelina, Bob, and Clarence are post-secondary students that work less than 20 hours a week at a local
4. Consider an economy with twenty individuals. Angelina, Bob, and Clarence are post-secondary students that work less than 20 hours a week at a local coffee shop. Dora, Eugene, and Frank are recent graduates travelling around the world. Gina and Helen are working part time as a junior accountant and would like to work full time at a firm. Ingrid, Joseph, Kelvin, and Laurence are working full time in their own careers. Manny and Nolan lost their job due to the past recession and is back to school to upgrade themselves for another job. Oddie, Peter, Quincy, and Raphael are full time post-secondary students. Steven is 58 years old and Timothy is 67 years; they are both retired and enjoys their golfing trips together. Agnes and Blanca are lazy adults that can work but choose not to. Clara and Donald are stay at home parents. Edith, Fiona, and George are actively seeking a new job. And an additional 20 individuals are in the army as non participants. a. Construct a population tree and accurately fill in the corresponding number of individual for each component. b. Calculate the labour force participation rate, involuntary part time rate, and the employment to population ratio
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