The following table contains information for Ecoland in 2013. Ecoland Economy: 2013 Thousands of Persons Labour force 17,183 Employment Working-age population 15,950 25,433 Compute the unemployment rate and the labour force participation rate. OA. Unemployment rate = 7.18 percent; labour force participation rate = 67.56 percent O B. Unemployment rate = 1.15 percent; labour force participation rate = 48.82 percent OC. Unemployment rate = 8.94 percent; labour force participation rate = 99.96 percent OD. Unemployment rate = 7.23 percent: labour force participation rate = 92.84 percent
The following table contains information for Ecoland in 2013. Ecoland Economy: 2013 Thousands of Persons Labour force 17,183 Employment Working-age population 15,950 25,433 Compute the unemployment rate and the labour force participation rate. OA. Unemployment rate = 7.18 percent; labour force participation rate = 67.56 percent O B. Unemployment rate = 1.15 percent; labour force participation rate = 48.82 percent OC. Unemployment rate = 8.94 percent; labour force participation rate = 99.96 percent OD. Unemployment rate = 7.23 percent: labour force participation rate = 92.84 percent
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Unemployment
Section: Chapter Questions
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![The following table contains information for Ecoland in 2013.
Ecoland Economy: 2013
Thousands of
Persons
Labour force
17,183
Employment
15,950
Working-age population
25,433
Compute the unemployment rate and the labour force participation rate.
A. Unemployment rate = 7.18 percent; labour force participation rate 67.56 percent
B. Unemployment rate 1.15 percent; labour force participation rate 48.82 percent
O C. Unemployment rate = 8.94 percent, labour force participation rate = 99.96 percent
O D. Unemployment rate = 7.23 percent: labour force participation rate 92.84 percent](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97c210e0-b7ff-42d6-84c6-02dccdfe12f3%2Fa3f96e6b-a02f-458f-b8a2-369bee5b7d0c%2Fa2w737_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table contains information for Ecoland in 2013.
Ecoland Economy: 2013
Thousands of
Persons
Labour force
17,183
Employment
15,950
Working-age population
25,433
Compute the unemployment rate and the labour force participation rate.
A. Unemployment rate = 7.18 percent; labour force participation rate 67.56 percent
B. Unemployment rate 1.15 percent; labour force participation rate 48.82 percent
O C. Unemployment rate = 8.94 percent, labour force participation rate = 99.96 percent
O D. Unemployment rate = 7.23 percent: labour force participation rate 92.84 percent
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