Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate
Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are
older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6
million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa.
Calculate the unemployment rate
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