Consider an economy with 150M residents. Of the 150M people there are: 20M under 16 80M employed people • 10M unemployed people a) What is the unemployment rate? 11.1 % b) What is the labor force participation rate? 69.2 For both answers round your answer to the nearest tenth of a percent (i.e. .0625 would be entered as 6.3%) %

Consider an economy with 150M residents. Of the 150M people there are: 20M under 16 80M employed people • 10M unemployed people a) What is the unemployment rate? 11.1 % b) What is the labor force participation rate? 69.2 For both answers round your answer to the nearest tenth of a percent (i.e. .0625 would be entered as 6.3%) %

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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