# Directions: answer both problems. Demonstrate and prove your answers. Answer each question fullyusing definitions, and explanations.1.Using the table below|(1,000's)PopulationLabor ForceLabor Force2015 ParticipationEducation201020102015Rate< High SchoolHigh School30,900.013,500.013,905.033,800.014,280.07,725.030,000.050,000.052,000.032,500.0Associates Degree20,400.014,000.07,500.020,000.0Bachelors Degree10,000.010,300.0Population110,000.0113,600.0|(1,000's)U/E ratesUnemployedEmployedEmployed RatesEducation20102010201520102015201020152015< High SchoolHigh School15.0%18.0%8.0%12.0%2,600.04,064.8Associates Degree910.0928.2Bachelors Degree193.1187.5Population Using the table above calculate, the labor force, Labor force participation rates for eachа.groupb. Using the table above, calculate, the number of people employed, unemployed,unemployment rates and employment rates for each of the group above.Contrast and compare the groups, which group has the lowest unemployment rates, theC.highest participation rates? How does education play a role for each group as comparedto the population in general? Explain fullyIf the government could implement a policy, how could it improve the unemploymentd.rates for the nation or population as a whole? Explain fully. Include why this isimportant for Gross Domestic Product

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

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Step 1

a.

Labor force is the number of people who are in working age and are able to work in the economy. The labor force would thus include both those who are employed as well as unemployed in the economy. The labor force can be calculated by summating the values of labor with different educational qualifications for each of the given year. The labor force for year 2010 can be calculated as follows:

Step 2

Similarly, the labor force of the year 2015 can be calculated as follows:

Step 3

The labor force participation rate is the measure of economy’s active labor force. It can be calculated by dividing the labor force with the t...

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