1. To be considered unemployed, a person needs to meet 2 qualifications:a.b.2. Historically, what are the highest and lowest unemployment rates in our history?3. There are 5000 people of working age. 2500 people are working full time. 900 are working parttime. 350 people are without jobs and looking for work.a.Calculate the unemployment rate.b. Calculate the labor force participation rate.#3%&34.86.eyWfkaCVmaltalt

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ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

1. To be considered unemployed, a person needs to meet 2 qualifications:
a.
b.
2. Historically, what are the highest and lowest unemployment rates in our history?
3. There are 5000 people of working age. 2500 people are working full time. 900 are working part
time. 350 people are without jobs and looking for work.
a.
Calculate the unemployment rate.
b. Calculate the labor force participation rate.
#3
%
&
3
4.
8
6.
e
y
W
f
k
a
C
V
m
alt
alt

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