Answered step by step
Verified Expert Solution
Question
1 Approved Answer
9) Assume the following information for the fictional country of Fantasia for 2023. Total Population of Fantasia 24.5 million Total population 15 years and over
9) Assume the following information for the fictional country of Fantasia for 2023. Total Population of Fantasia 24.5 million Total population 15 years and over 20.7 million Total labour force population 17.5 million Labour force Part-time workers that do not wish to 1.2 million have full time jobs Part-time workers that wish to have 0.90 million full time jobs Workers with full-time jobs 10.5 million Unemployed members of the labour 0.50 million force Discouraged workers 0.20 million For 1 mark each, calculate: a) The number of people in the labour force b) The unemployment rate ) The labour force participation rate d) The unemployment rate that would result if the discouraged workers were included in the labour force
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started