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Difference between labour market and goods market
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- According to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6 million. The adult population over the age above 15 years was reported to be about 21.3 million and the labour force is 16.5 million. The population employed was about 13.4 million. Following this information; What is the population of the people that is not included in the labour force? Show your work.An unemployed person is A person who wants a to work but does not look for oneA person who is actively seeking a paid jobA university graduateA volunteer who does charity workIn the market for labor, the price of labor is the: same as price of the product produced by the labor. real wage. marginal product of labor. number of hours employed per year.
