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Calculate labor force participation rate

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Reference no: EM13872541

Q.1. What is national saving? What is private saving? How are these three variables related?

Q.2. What is Labor Force Participation rate? Calculate Labor Force Participation rate by using the data given below.

Adult Population

No. of Employed

239.6million

No. of Unemployed

23.6million

Not in Labor Force

95.7million

Q3.

Year Real GDPin2005 Millions$ Population Millions of people
1961 2432 184
1962 2578 186

The real GDP per person for San Lucia grew rapidly in the early 1960s. The table above has San Lucia real GDP and population for 1961 and 1962.

a. What was San Lucia real GDP per person in 1961?

b. What was San LuciaReal GDP per person in 1962?

c. Between 1961 and 1962, how rapidly did San LuciaReal GDP per person grow?

Reference no: EM13872541

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