Given that: The number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4%. The labor force participation rate is 72.5%. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?

Given that: The number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4%. The labor force participation rate is 72.5%. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 2WNG

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Question

Problem 3
Given that:
The number of employed people in an economy is 121,166,640.
The unemployment rate in this economy is 10.4%.
The labor force participation rate is 72.5%.
a. What is the size of the labor force?
b. How many people are unemployed?
c. What is the size of the working-age population?
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