The total population of a country is 7658 million people. 2019 million people are employed, 1550 million people are unemployed, 6250 million people are in working age group. The labor force participation rate in the country is

The total population of a country is 7658 million people. 2019 million people are employed, 1550 million people are unemployed, 6250 million people are in working age group. The labor force participation rate in the country is

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter6: Business Cycles And Unemployment

Section: Chapter Questions

Problem 7SQ

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Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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