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Consider an economy with 150M residents. Of the 150M people there are: . 20M under 16 - 80M employed people . 10M unemployed people a)

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Consider an economy with 150M residents. Of the 150M people there are: . 20M under 16 - 80M employed people . 10M unemployed people a) What is the unemployment rate? % b) What is the labor force participation rate? % For both answers round your answer to the nearest tenth of a percent (i.e. .0625 would be entered as 6.3%)

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