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Calculate the unemployment rate AND labor force participation rate for the following scenarios. SHOW YOUR WORK and round to whole numbers. 1. UR LE Population

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Calculate the unemployment rate AND labor force participation rate for the following scenarios. SHOW YOUR WORK and round to whole numbers. 1. UR LE Population 200 Employed 120 Unemployed 30 Not part of the LF 50 2. UR LE Population 100 Employed 65 Not part of the LF 10 UR LE Employed 400 Unemployed 100 Not part of the LF 500 Determine the employment status of the following people: Not part of Employed Unemployed the Labor Force 4. Gilderoy, a teacher, was fired 27 days ago, but has not yet started looking for a job. 5. Ron, a 16-year-old student, works 10 hours per week in the school library dusting books in the restricted section. 6. Harry, a 17-year-old independently wealthy high school dropout, sets out to explore the world and search for some interesting artifacts. 7. Hermione, a 20-year-old part-time college student, was fired yesterday from her job as an assistant for Prof. Trelawney. 8. Sirius, who is serving a life sentence in prison after being wrongfully convicted, works full time in the prison kitchen. . A former Economics professor quits his job to train people to become Jedi, but he only has 1 client paying $10 per month. 10. A retired Admiral volunteers as a caddy at a local golf course and specializes in pointing out hazards. "It's a sand-TRAP!"

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