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In a small town of Kamm, there is an adult population of 10,000. 800 are full-time students, 900 are retired, 7,670 are currently working and
In a small town of Kamm, there is an adult population of 10,000. 800 are full-time students, 900 are retired, 7,670 are currently working and 630 are looking for a job. a) What is the total labor force in Kamm? b) Calculate the labor force participation rate in Kamm. c) Calculate the (overall) unemployment rate in Kamm. d) Suppose 333 people among 630 unemployed are cyclically unemployed, what is the natural rate of unemployment in Kamm
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