Consider the population of a small country, assuming that the number of people in each category is as follows:

total population	1,200
children under 16 years old	200
elderly retired people	300
full-time students	20
full-time homemakers	30
people working full time	420
people working part time	120
people not working but seeking employment	60
people not working but have given up seeking employment	50

1. Define and calculate the labour force participation rate. (2 marks)
2. Define and calculate the unemployment rate. (2 marks)
3. Define the different types of unemployment. (2 marks)