Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose the relevant population (non-institutionalised, at least age 16) of Wildcat Nation is 20,000. Of this population, 4,000 are employed, 6,000 have never worked and
Suppose the relevant population (non-institutionalised, at least age 16) of Wildcat Nation is 20,000. Of this population, 4,000 are employed, 6,000 have never worked and are not looking for work, 8,000 are not working and are looking for work, and 2,000 have retired.
Based on this information, the labour force is ____ the labour force participation rate is ____ and the unemployment rate is ____.
a.
12,000; 60%; 66.7%
b.
14,000; 66.7%; 66.7%
c.
12,000; 60%; 33.3%
d.
18,000; 50%; 30%
e.
12,000; 66.7%; 33.3%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started