The economy of Naboo has a population of 10 million people, of which 7 million are in the labour force. Three (3) million people work in the construction sector, two (2) million people work in the services sector, one (1) million people work in the IT sector and one (1) million people unemployed. unemployed construction workers with respect to total number of unemployed people is the same as the fraction of employed construction workers with respect to the total population. And the fraction of unemployed service workers with respect to the total number of unemployed people is the same as the fraction of employed service workers with respect to the total population. a. Suppose that the construction sector faces reduced demand, and is forced to lay of 2 million workers. 1.5 million of them stay in the labour force while 0.5 million discouraged workers were laid-off. Calculate the unemployment rate in Naboo
1. The economy of Naboo has a population of 10 million
people, of which 7 million are in the labour force. Three
(3) million people work in the construction sector, two (2)
million people work in the services sector, one (1) million
people work in the IT sector and one (1) million people
unemployed.
unemployed construction workers with respect to total
number of unemployed people is the same as the fraction
of employed construction workers with respect to the total
population. And the fraction of unemployed service
workers with respect to the total number of unemployed
people is the same as the fraction of employed service
workers with respect to the total population.
a. Suppose that the construction sector faces reduced
demand, and is forced to lay of 2 million workers. 1.5 million of them stay in the labour force while 0.5 million discouraged workers were laid-off. Calculate the
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