Question
The information in the table below applies to a hypothetical economy. Answer the following questions writing out millions of workers and percentage rates each to
The information in the table below applies to a hypothetical economy. Answer the following questions writing out millions of workers and percentage rates each to one decimal place e.g. 1.0 million and 1.0%.
Unemployed members of the labour force2.3 million
Total population 15 year of age and over59.2 million
Participation rate64%Workers with full-time jobs21.8 million
Part-time workers who do not wish to have full-time jobs4.1 million
Part-time workers who wish to have full-time jobs3.3 million
Total population less than 15 years of age14.6 million
a. The size of the labour force ismillion.
b. The size of the labour force population ismillion.
c. The official unemployment rate is%.
d. An estimate of the unemployment rate that includes underemployment is%.
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