1) A) The working-age population is 30,000,000. Of these, 21,000,000 people had jobs. Of the remainder,...

A) The working-age population is 30,000,000. Of these, 21,000,000 people had jobs. Of the remainder, 3,000,000 were looking for work, 1,500,000 wanted to work but did not actively look for work, and 4,500,000 did not want to work. Calculate the following statistics to 2 decimal places:

1) The labour force.

2) The number of people not in the labour force.

3) The labour force participation rate.

4) The unemployment rate

B) differentiate between underemployment and discouraged workers. Provide an example of each

C) What is structural unemployment? Provide an example

D) Can unemployment be zero?

E) Define and provide an example of labour hoarding.

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Expert Solution

Rahul Sunny answered 1 year ago

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