Given the below information you are to find the labor force participation rate and the unemployment rate. You must show all work and take all steps to receive credit. Your work must be done in a neat well organized easy to follow manner.   Population                              700,000 Under 16                                   70,000 Incarcerated                              70,000 Retired                                        37,000 Working Part Time Looking For Full Time               77,000 Homemakers                              30,000 Lost Job                                        77,000   17,000 of them have given up looking

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 7CQ
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Given the below information you are to find the labor force participation rate and the unemployment rate. You must show all work and take all steps to receive credit. Your work must be done in a neat well organized easy to follow manner.

 

Population                              700,000

Under 16                                   70,000

Incarcerated                              70,000

Retired                                        37,000

Working Part Time

Looking For Full Time               77,000

Homemakers                              30,000

Lost Job                                        77,000   17,000 of them have given up looking

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