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1. When total population of a society is 11,000. Out of them children are 3000, Aged are 2500, full time students are 1500, and 560 persons are looking for jobs. Find out labor participation rate and unemployment rate accordingly?
2. IF inflation increased by 2 percent every year from the year 2000 for next five years. And unemployment rate reduced by 1 percent average during that period from 29 percent. Find the relationship between this two. Explain with graphical representation.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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