A country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate?
A country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate?
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 2WNG
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A country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed;
I. What is the size of the labour force?
ii What is the actual
iii what is the labour force participation rate?
iv. What is the employment/population ratio?
v. What is the natural rate of unemployment?
vi. Is this economy in recession or a boom? Explain
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