Table 28-1. The table below lists the number of people by labor force classification for the country of Shelbyville. 4. Refer to Table 28-1. What is the size of the labor force, and the size of the adult population? 5. Refer to Table 28-1. What is the unemployment rate? 6. Refer to Table 28-1. What is the labor force participation rate?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 20RQ: Why is there unemployment in a labor market with flexible wages?
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Table 28-1.

The table below lists the number of people by labor force classification for the country of Shelbyville.

4. Refer to Table 28-1. What is the size of the labor force, and the size of the adult population?

5. Refer to Table 28-1. What is the unemployment rate?

6. Refer to Table 28-1. What is the labor force participation rate?

Employed
Unemployed
80 million
20 million
Not in the Labor Force
60 million
Transcribed Image Text:Employed Unemployed 80 million 20 million Not in the Labor Force 60 million
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