Q-2 Compute the (a) Number of unemployed, (b) Unemployment-rate, (c) Population, and (d) Labor force participation rate, using this data: Number of employed = 1600 million Not in labour force = 725 million Number of Labour force = 2000 million

Q-2 Compute the (a) Number of unemployed, (b) Unemployment-rate, (c) Population, and (d) Labor force participation rate, using this data: Number of employed = 1600 million Not in labour force = 725 million Number of Labour force = 2000 million

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter7: Inflation

Section: Chapter Questions

Problem 1SQ

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Question

Q-2 Compute the

(a) Number of unemployed,

(b) Unemployment-rate,

(d) Labor force participation rate, using this data:
Number of employed = 1600 million Not in labour force = 725 million
Number of Labour force = 2000 million

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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