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1.Consider the population of a small country, assuming that the number of people in each category is as follows (There is a video in Content that will help with these calculations):

Total population = 25,000

Children under age 16 = 4,000

People working full time for pay = 11,000

People working part time for pay = 3,000

People not working but seeking employment = 1,000

People not working but have given up seeking employment = 900

a.Calculate the number of employed.

b.Calculate the number of unemployed.

c.Calculate the labor force.

d.Calculate the working age population.

e.Calculate the labor force participation rate.

f.Calculate the unemployment rate.

2.Describe the personal effects of unemployment.

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