Define what is the employment-population ratio

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Reference no: EM13236647

A country with a civilian population of 120000 (all over age 16) has 100000 employed and 10000 unemployed persons, of which 5000 are frictionally unemployed and another 3000 structurally unemployed.

A. What is the size of the labor force?

B. What is the actual unemployment rate?

C. What is the labor force participation rate?

D. What is the employment/population ratio?

E. What is the natural rate of unemployment?

F. Is this economy in a recession or a boom? Explain.

Reference no: EM13236647

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