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Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate

Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate

Macroeconomics
Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
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Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate
Transcribed Image Text:Assume there are 30 million people in South Africa. A Total of 4 million people are younger than 15 years, 5 million are older than 65 years and 21 million are between 15 and 65 years. Also, a total of 15 million people are employed and 6 million are unemployed. Calculate the size of the labour force and labour force participation rate in South Africa. Calculate the unemployment rate
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