In: Economics
Suppose that you are given the following information. Answer the following question:
Labor force | 200 million |
Adults in the military | 1 million |
Population below 16 | 50 million |
Employed adults | 180 million |
Institutionalized adults | 3 million |
Not in Labor force | 40 million |
1. What is the total population? ( show your work)
2. How many people are unemployed, and what is the unemployment rate?
3. what is the labor force participation rate?