Question 5. Unemployment(a) A country labor force is 18. There are 8 children, 1 active duty servicemember, and 9retirees over age 67. The labor force participation rate is 58%. Find the country's population.Show work.(b) In the country from (b), in addition to the 8+1+9 people, 4 more don't have jobs. Of the four,two are looking. Find the country's unemployment rate.(c) A country is undergoing a jobless recovery and one person falls victims to it. The country'slabor supply indicators pick it up: both the unemployment rate and the labor force participationdrop. Determine if the person is discouraged from job searching or is underemployed. Motivateyour answer using the labor supply categories. Be concise and to the point.

Question 5. Unemployment (a) A country labor force is 18. There are 8 children, 1 active duty servicemember, and 9 retirees over age 67. The labor force participation rate is 58%. Find the country's population Show work.

Question 5. Unemployment (a) A country labor force is 18. There are 8 children, 1 active duty servicemember, and 9 retirees over age 67. The labor force participation rate is 58%. Find the country's population Show work.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When people are able and wanting to work but are unable to obtain a job, this is referred to as being unemployed. In other words, it happens when people are unemployed but actively looking for work.

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