MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 6, Problem 3TY
To determine
Effect of difference in actual GDP and potential GDP on
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Suppose the number of employed people in Pakistan is 20.5 million. The unemployment rate in this economy is 8.8 percent, and the labor force participation rate is 65 percent.
What is the size of the labor force and working-age population?
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