Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Econometric Evaluation Of Socio-Economic Programs Theory And Applications

Authors: Giovanni Cerulli

1st Edition

3662464055, 9783662464052

More Books

Students also viewed these Economics questions