PLEASE SOLVE THE FOLLOWING

Q2a. Consider the population of a small country, assuming that the number of people in each category is as follows:(5 marks) Total population = 1,200 Children under age 16 = 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 a. Calculate the labor force participation rate. b. Calculate the unemployment rate. c. How does the unemployment rate understate the problem of unemployment? Unrelated to the above d. What is the unemployment rate of Canada? BC?Q2b. Interpret the following statements from newspapers in terms of the type of unemployment. Explain your reasoning. 1. 'Of course, I could take a job as a dishwasher, but I'm trying to find something that makes use of my high school education", says a local teenager in our survey of the unemployed ii. 'Retraining is the best reaction to the increased use of robots ill. "A middle- aged woman who re-entered the labor force after home-schooling her kids gave up after several months of looking but not finding a job. What a waste' iv. 'Recession hits local factory; 1,800 workers laid off V. 'Due to the additional job gains in the labor market, the economy is now experiencing full employment, in spite of the measured unemployment rate of 6.5%'.5. If nominal GDP in some year is $280 and real GDP is $160 the GDP price index for that year is: A) 175. B) 57. 160. 280