You have been hired by the small country of Farmland as a macroeconomic advisor. After several years of growth, the country has fallen into a recession, and their former chief economist has passed away unexpectedly. Fortunately, they have left a robust set of statistics for you to work from. Farmland is a closed economy - there is no international trade. They do have a government, and a proportional tax system. The tax rate is 15%.It is late in Year 4, and the records left by the former chief economist include a projection of the coming year's adult civilian population and labor force.

ISL fortunately, they have left a robust set of statistics for you to work from. Farmland is a closed economy - there is no international trade. They do have a government, and a proportional tax system. The tax rate is 15% It is late in Year 4, and the records left by the former chief economist include a projection of the coming year's adult civilian population and labor force. Population + Expenditure Labor Year Population Force Employed Consumption Investment Government 1014 710 677 $1.344.180 $415.000 $310.000 2 1024 717 689 $1.384.903 $430.000 $320.000 1041 729 704 $1.451.864 $460.000 $330.000 1052 736 683 $1,414,312 $345.000 $340.000 1068 748 Price Information (based on average monthly spending for individuals) Item Year 1 Year 2 Year 3 Year 4 certainment $8 $8 $10 Clothing $11 $11 $10 $10 Groceries $25 $22 $20 $18 Healthcare $15 $15 $15 $15 Transportation $6 $6 $5 $6 Education $12 $13 $15 $17 Housing $75 $80 $85 $85 Use the population data to calculate the employment-to-population ratio and