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Use the following information about the economy's labour market to answer the questions below. 2020 2021 Population 30.4 million 31.5 million Adult Population 22.8 million
Use the following information about the economy's labour market to answer the questions below. 2020 2021 Population 30.4 million 31.5 million Adult Population 22.8 million 23.4 million Number Employed 15.3 million 15.7 million Number Unemployed 1.1 million 1.5 million a) What is the labour force participation rate in 2020 and 2021? b) What is the unemployment rate in 2020 and 2021? c) If the natural rate of unemployment is 7.3%, how much is cyclical unemployment in 2020 and 2021? I UV A/ E B Paragraph O hp
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