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In: Economics

Given the following information: Total Population ………………………………………………………………400,000,000 Non – Adult Population ………………………………………………………80,000,000 Labor Force Participation Rate...

Given the following information:

Total Population ………………………………………………………………400,000,000

Non – Adult Population ………………………………………………………80,000,000

Labor Force Participation Rate ………………………………………………..80%

Employed …………………………………………………………………….. 240,000,000

(a)  Please calculate the Adult Population and the labor Force. Please show all calculations for full credit

(b) What is the unemployment rate?

(c)  If the cyclical unemployment rate is 3%, what is the natural rate of unemployment rate?

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
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