Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent. 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?

Economics (MindTap Course List)
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Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
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Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent.

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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