11. Use the following data to calculate (a) the size of the labor force and (b) the official unemployment rate: total population, 600; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. (a) the size of the labor force: (b) the official unemployment rate: (c) What is the full-employment rate of unemployment (or NRU) today? percent (d) Would you say that the above example shows a year of full employment? Yes, No).

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11. Use the following data to calculate (a) the size of the labor force and (b) the official unemployment
rate: total population, 600; population under 16 years of age or institutionalized, 120; not in labor force,
150; unemployed, 23; part-time workers looking for full-time jobs, 10.
(a) the size of the labor force:
(b) the official unemployment rate:
(c) What is the full-employment rate of unemployment (or NRU) today?
percent
(d) Would you say that the above example shows a year of full employment? ( Yes, No).
Transcribed Image Text:11. Use the following data to calculate (a) the size of the labor force and (b) the official unemployment rate: total population, 600; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. (a) the size of the labor force: (b) the official unemployment rate: (c) What is the full-employment rate of unemployment (or NRU) today? percent (d) Would you say that the above example shows a year of full employment? ( Yes, No).
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