A country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally  unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate?   Please I need answers for the below iv. What is the employment/population ratio? v. What is the natural rate of unemployment? vi. Is this economy in recession or a boom? Explain

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A: Unemployment rate refers to the fraction or percentage of unemployed workforce from the total labor…

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A:

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A: Unemployment rate = [Total unemployment / Labor force] * 100

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A: We are going to use a labor force definition to answer this question

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A: Labor force equals employed plus unemployed

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A: Unemployed / total labour force = 0.041  Labour force ( X ) = employed + unemployed  X = 160528000 +…

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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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Q: Hello, I would like help on those assignments. Thank you!

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A: Unemployment can be defined as an economic condition when the supply of labour is more than the…

Q: Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this…

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