The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Employed Unemployed Not in the labor force What is the total labor force? What is the labor force participation rate? What is the unemployment rate? Number of people 4505 452 591 Suppose 286 of the 452 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? What is the new unemployment rate? % % %

The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Employed Unemployed Not in the labor force What is the total labor force? What is the labor force participation rate? What is the unemployment rate? Number of people 4505 452 591 Suppose 286 of the 452 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? What is the new unemployment rate? % % %

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A6
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