The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Number of people Employed 4505 Unemployed 482 Not in the labor force 551 What is the total labor force? What is the labor force participation rate? % What is the unemployment rate? %

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter10: Unemployment
Section: Chapter Questions
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Suppose 266 of the 482 unemployed people have been
unemployed for so long that they stop looking for work.
What is the new labor force?
What is the new labor force participation rate?
What is the new unemployment rate?
%
Transcribed Image Text:Suppose 266 of the 482 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? What is the new unemployment rate? %
The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your
percentages to two decimal places.
Category
Number of people
Employed
4505
Unemployed
482
Not in the labor force
551
What is the total labor force?
What is the labor force participation rate?
%
What is the unemployment rate?
%
Transcribed Image Text:The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Number of people Employed 4505 Unemployed 482 Not in the labor force 551 What is the total labor force? What is the labor force participation rate? % What is the unemployment rate? %
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