Year 1 Year 2 Employment (households survey) 5,100 5,200 Labor Force 6,000 6,100 Population 10,000 10,200 Calculate the number of unemployed people each year. Calculate the unemployment rate in each year. Calculate the labor force participation rate in each year.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...
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Year 1
Year 2
Employment
(households
survey)
5,100
5,200
Labor Force
6,000
6,100
Population
10,000
10,200
Calculate the number of unemployed people each year.
Calculate the unemployment rate in each year.
Calculate the labor force participation rate in each year.
Transcribed Image Text:Year 1 Year 2 Employment (households survey) 5,100 5,200 Labor Force 6,000 6,100 Population 10,000 10,200 Calculate the number of unemployed people each year. Calculate the unemployment rate in each year. Calculate the labor force participation rate in each year.
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