Consider the following data from a particular economy. Item Value Unemployment Rate 5% Labor Force Participation Rate 75

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Consider the following data from a particular economy. Item Value Unemployment Rate 5% Labor Force Participation Rate 75

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Consider the following data from a particular economy. Item
Value Unemployment Rate 5% Labor Force Participation Rate 75%
Working-Age Population 7,000,000
1. How many people are in the Labor Force? (A)
7,000,000. (B) 5,250,000. (C) 262,500. (D) 525,000.
2. How many people are unemployed? (A)
7,000,000. (B) 5,250,000. (C) 262,500. (D) 525,000
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