Question 3The table below gives some data on the population of Crescent Highland. Use the provided information to fill the table. YEARS 1 2 3 4 5 6 7 Population: 16 Years Older or Over (Millions)Labour Force (Millions)Employed (Millions)Unemployed (Millions)Labour Force Participation RateUnemployment RateEmployment Rate2000105.0 58.93.3 2005117.2 65.83.9 2010137.1 78.74.1 2015167.7 99.37.6 2020189.2 118.87.0 2025212.6 136.95.7 2030232.8 139.114.8 2035247.9 146.39.6 Note: Show the formula you used to calculate each column.

Labor force: The labor force consists of the number of people who are employed plus unemployed…

Answered: Question 3 The table below gives some…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 3

The table below gives some data on the population of Crescent Highland. Use the provided information to fill the table.

YEARS	1	2	3	4	5	6	7
	Population: 16 Years Older or Over (Millions)	Labour Force (Millions)	Employed (Millions)	Unemployed (Millions)	Labour Force Participation Rate	Unemployment Rate	Employment Rate
2000	105.0		58.9	3.3
2005	117.2		65.8	3.9
2010	137.1		78.7	4.1
2015	167.7		99.3	7.6
2020	189.2		118.8	7.0
2025	212.6		136.9	5.7
2030	232.8		139.1	14.8
2035	247.9		146.3	9.6

Note: Show the formula you used to calculate each column.

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