A country has an adult population of 2500 individuals, and labour demand and supply curves defined by L(D) = 2400-100w, L(S) = -400+200w. A minimum wage of 10 is imposed by unions.

1. If the wage rate is w = 10, the size of the labour force is:

a) 2500 b) 1400 c) 1600 d) impossible to determine

1. If the wage rate is w = 10, the number of people who will be employed is:

a) 2500 b) 1400 c) 1600 d) impossible to determine

1. If the wage rate is w = 10, the number of people who will be unemployed is:

a) 1100 b) 900 c) 200 d) impossible to determine

1. If the wage rate is w = 10, the labour force participation rate is:

a) 100% b) 87.5% c) 64% d) 56%

1. If the wage rate is w = 10, the unemployment rate is:

a) 14.3% b) 12.5% c) 8% d) 0%