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Unemployment rate, employment rate and labour force participation rate are three typical measures for economic conditions. Answer the following: a) Explain the basic concepts of

Unemployment rate, employment rate and labour force participation rate are three typical measures for economic conditions. Answer the following:

a) Explain the basic concepts of labour force participation rate, employment rate, unemployment rate

b) Describe circumstances under which that measure would be preferred to the other two.

c) Under what conditions will these three measures all move in the same directions? Under what conditions would these move in opposite directions?

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