Question
Working-age population..................................12 million Labor Force.....................................................10 million Number of people employed.............................7.5 million Number of people Involuntarily Unemployed.......1 million Questions: (a) Calculate the number of people not
Working-age population..................................12 million
Labor Force.....................................................10 million
Number of people employed.............................7.5 million
Number of people Involuntarily Unemployed.......1 million
Questions:
(a) Calculate the number of people not in the labor force.......(2 marks)
(b) Calculate Economy's A unemployment rate..............(2 marks)
(c) Calculate to Involuntary Part-Time rate for economy A. What does it tell economists? (2 marks)
(d) Suppose that, due to poor economic conditions, 250 000 people give up looking for work. Explain how this will affect economy A's unemployment will be affected. (4 marks)
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