The following is information about labor market: Entire Population 800 People under the age of 16 75 Retired people 200 Number of people with full time job 250 Number of people with part time job 175 Number of people without a job but looking for one 75 Number of people without a job and not looking for it 25 What is the unemployment rate? What is the labor force participation rate?
The following is information about labor market: Entire Population 800 People under the age of 16 75 Retired people 200 Number of people with full time job 250 Number of people with part time job 175 Number of people without a job but looking for one 75 Number of people without a job and not looking for it 25 What is the unemployment rate? What is the labor force participation rate?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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100%
The following is information about labor market:
Entire Population |
800 |
People under the age of 16 |
75 |
Retired people |
200 |
Number of people with full time job |
250 |
Number of people with part time job |
175 |
Number of people without a job but looking for one |
75 |
Number of people without a job and not looking for it |
25 |
- What is the
unemployment rate? - What is the labor force participation rate?
.
please make sure the answer is correct 100%
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