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Svetllana [295]
3 years ago
7

Suppose the working-age population of a fictional economy falls into the following categories:

Business
1 answer:
aniked [119]3 years ago
6 0

Answer:

The right solution is:

(a) 120

(b) 20%

Explanation:

Given that,

Full time employed,

= 75

Part time employed,

= 25

Total unemployed,

= 20

(a)

The total employed will be:

= Full \ time + Part \ time

= 75+25

= 100

Now,

Labor force will be:

= Total \ employed+Total \ unemployed

= 100+20

= 120

(b)

The unemployment rate will be:

= \frac{Total \ unemployment}{Labor \ force}\times 100

= \frac{20}{100}\times  100

= 0.2\times 100

= 20 (%)

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