You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country:CountryLabor Force (millions)Employed (millions)Natural rate of unemploymentBumdumbourge1301206.3%Mundelow4654376.5%Totalslava88826.9%Potamia2852647.3%Dortugal3112955.5%Prance3963559.2%a. From the data given, which country has the largest number of unemployed people?b. Totalslava has the smallest number of unemployed people; how does its unemployment rate compare to Bumdumbourge and Mundelow?c. Which countries are currently in recession? Which countries are experiencing a boom?

A person is deemed to be employed if they are actively involved in a job, business, trade, or…

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Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 6WNG

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You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country:

Country	Labor Force (millions)	Employed (millions)	Natural rate of unemployment
Bumdumbourge	130	120	6.3%
Mundelow	465	437	6.5%
Totalslava	88	82	6.9%
Potamia	285	264	7.3%
Dortugal	311	295	5.5%
Prance	396	355	9.2%

a. From the data given, which country has the largest number of unemployed people?

b. Totalslava has the smallest number of unemployed people; how does its unemployment rate compare to Bumdumbourge and Mundelow?

c. Which countries are currently in recession? Which countries are experiencing a boom?

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