Labour force participation rate and unemployment rate

Reference no: EM1314648

1. The BLS estimates that in 2002, the number of working-age adults was 211.9 million, labour force was 141.8 million, and the total number of employed was 135.1 million. Calculate the following:

a. Labour force participation rate

b. Unemployment rate.

2. What is national income accounting and why is it useful?

Reference no: EM1314648

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