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- 1.2 At full employment, there are only frictional and...............unemployment.the difference between the ‘labor force participation rate’ (LPR) and the ‘employment-to-population ratio’ (EPR), i.e. (PR-EPR), is equal to 15%. It is also known that the unemployment rate is equal to 20%, and the ‘working-age population’ is 300 million. Calculate: the number of unemployed people. the labor-force (work-force). labor force participation rate Please explain each answerThe adult population is divided into three groups: employed, unemployed, not in the labor force. The latest TUIK labor force statistics for October 2023 show that the largest group is Not in the labor force Retired Unemployed Employed
- Frictional unemployment refers to Select one: a. unemployment from people changing jobs and entering the labor force. b. unemployment caused by labor strikes. c. unemployment caused by downturns in the economy.Please answer both components; thank you! 1. Explain why “full employment" does not mean 0% unemployment. 2.Full employment unemployment rate" (also called the natural rate of unemployment) is defined as a) The situation when all people who want to work are actually employed. b) Zero involuntary unemployment. c) The unemployment rate that would exist in the absence of cyclical unemployment. d) The situation of only frictional unemployment. e) The unemployment rate that would exist in the absence of structural unemployment.
- Frictional unemployment is the Frictional unemployment is the a) unemployment that results when people become disheartened about their chances of finding a job and so stop looking for work. b) portion of unemployment that is due to the normal working of the labour market. c) portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries. d) unemployment that occurs during recessions.Population: 250 million Working-age population: 192 millionLabor Force: 120 million Number of people Employed: 114 million The unemployment rate for this economy is____________ %, and the labor force participation rate for this economy is___________ %.Suppose that the unemployment rate is 10%, the total working age population is 100 million, and the number of unemployed is 7.5 million. Determine the number of employed workers
- Suppose that the unemployment rate is 10%, the total working age population is 100 million, and the number of unemployed is 7.5 million. Determine the labor forceSuppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate? 6.7%9.5%10.5%28%Consider the following data: Employment (E): 312, 545,372 Unemployment Rate (%u): 7.4% Participation rate: 80% How many people are unemployed (U) What is the size of the labor force (L) What is the size of the working-age population (POP)