1. Measuring employment, unemployment, and labour force participation Consider a small economy composed of six people: K

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1. Measuring employment, unemployment, and labour forceparticipation
Consider a small economy composed of six people: Kevin, Maria,Rajiv, Simone, Ana, and Yakov. Each person's employment status isdescribed in the following table.
Based on the criteria used by Statistics Canada, identify eachperson's status as Employed, Unemployed, “Not in the labour force”if not in the labour force but still part of the adult population,or “Not in the adult population” if not in the adultpopulation.
Person
Status
Kevin is a 74-year-old professor. He teaches only one or twocourses a year, but he's still pursuing an active researchagenda.
Maria is a 30-year-old professional basketball player. Shefinished her last season as a player three weeks ago and iscurrently interviewing for a coaching position.
Rajiv is a 37-year-old graphic designer who is taking two yearsoff from work to care for his small daughter.
Ana is a 31-year-old science teacher who taught at West ValleyMiddle School last year. Due to budget cuts, she was laid off atthe end of the school year. It's the summer now, and after a fewweeks of vacation with her family, she is looking for a part-timejob as a tutor.
Yakov is a 20-year-old American studies major at the Universityof Alberta. It's summer now, and he is working as a lifeguard inVictoria, British Columbia.
Simone is a 12-year-old student at West Valley Middle School.She baby-sits her younger sister and does other chores for whichher parents give her an allowance of $25 per week.
Complete the right half of the following equation to reflect thelabour force participation rate reported by Statistics Canada.
According to this formula, what is the labour forceparticipation rate of this economy of six people?
40%
50%
80%
100%
Complete the right half of the following equation to reflect theunemployment rate reported by Statistics Canada.
According to this formula, what is the unemployment rate of thiseconomy of six people?
40%
50%
80%
100%