6. Use the data below to answer the ensuing questions. Show your work. Item Value Unemployment Rate Labour Force Participation Rate 10% 70% Not in Labour Force 300,000 persons (a) How many people are in the labour force? (b) How many people are unemployed? (c) What is the total adult population in this economy?
6. Use the data below to answer the ensuing questions. Show your work. Item Value Unemployment Rate Labour Force Participation Rate 10% 70% Not in Labour Force 300,000 persons (a) How many people are in the labour force? (b) How many people are unemployed? (c) What is the total adult population in this economy?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![6. Use the data below to answer the ensuing questions. Show your work.
Item
Value
Unemployment Rate
Labour Force Participation Rate
10%
70%
Not in Labour Force
300,000 persons
(a) How many people are in the labour force?
(b) How many people are unemployed?
(c) What is the total adult population in this economy?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F51cf9bfb-7d6d-4224-85ad-17eb47864d18%2F5d973996-5a0e-44a2-a836-bfe130fa1984%2Fj1gxp2v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6. Use the data below to answer the ensuing questions. Show your work.
Item
Value
Unemployment Rate
Labour Force Participation Rate
10%
70%
Not in Labour Force
300,000 persons
(a) How many people are in the labour force?
(b) How many people are unemployed?
(c) What is the total adult population in this economy?
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