Business, 20.03.2020 17:26 luislopez05

Assume you have the following information about an economy: Labor Force of an Economy Number of People (millions) Population over age 16 248.2 Labor force 156.0 Not in the labor force 92.2 Employed 146.4 Unemployed 9.6 Instructions: Round your answers to two decimal places. a. What is the unemployment rate in this economy? 6.15 % b. What is the labor force participation rate? % c. Assume that 1 million discouraged workers decide to start looking for work again, thereby increasing the number of officially unemployed workers by 1 million. What is the unemployment rate now? % d. What is the new labor force participation rate? %

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Assume you have the following information about an economy: Labor Force of an Economy Number of Peop...

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