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Country A with a civilian population of 165 mil (all over age 16), has 103mil employed and 17mil unemployed persons, of which 2 mil is
Country A with a civilian population of 165 mil (all over age 16), has 103mil employed and 17mil unemployed persons, of which 2 mil is frictionally unemployed and another 4mil structurally unemployed.
a) What is the size of the labor force in millions? ________
b) What is the actual unemploymentrate? ________
c) What is the naturalrateof unemployment? ____________
d)What is the cyclical unemploymentrate?______________
e) Number of people not in the labor force?___________
f) Is this economy in a recession or a boom? ______________
g) Explain
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