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5. If in a country, the adult population is 120,000, the labor force numbers 110, 000, of which 20,000 are unemployed. What is the (a)
5. If in a country, the adult population is 120,000, the labor force numbers 110, 000, of which 20,000 are unemployed. What is the (a) unemployment rate? (b) Labor force participation rate? 6. (a) If in 2001 the CPI was 30 and in 2002 it increased to 40, what was the inflation rate in 2002? (b) Explain the concept of marginal thinking. What is the rule of rational choice?
please solve both and explain..
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