Page 1 of 1
As a potential economist, you are given the following scenario for a fictional economy: Suppose the working-age populati
Posted: Thu May 19, 2022 10:48 am
by answerhappygod
- As A Potential Economist You Are Given The Following Scenario For A Fictional Economy Suppose The Working Age Populati 1 (273.96 KiB) Viewed 61 times
As a potential economist, you are given the following scenario for a fictional economy: Suppose the working-age population of a fictional economy falls into the following categories: 50 people have full-time employment; 25 have part-time employment; 15 people have part time jobs but are also actively looking for full time jobs, 20 do not have employment, but are actively looking for employment; and 10 people are stay at home parents. {Show all the steps including the relevant formulae & proper units} ALL CALCULATIONS ARE FOR THE OFFICIAL SIZE OF THE LABOR FORCE AND OFFICIAL UNEMPLOYMENT RATE. • (1) What is the size of Labor force • (2) What is the Unemployment rate