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Consider an economy in which all inhabitants described below are unique (no one fits into more than one category). All people described below are between

Consider an economy in which all inhabitants described below are unique (no one fits into more than one category). All people described below are between 20 and 50 years old.

  • 2600 work full time
  • 600 work part time
  • 150 are not working but are currently actively looking for employment
  • 50 are not working and are not currently looking for employment

1. Calculate the labor force for this economy. We will use this data again on a future question.

2. The unemployment rate is ________ percent.

Enter your answer "as a percent, but without the percentage sign." If you think the unemployment rate is 99.99 percent, enter only 99.99 in the blank. We will use this data again on a future question.

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