What is the unemployment rate of this economy

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Reference no: EM131169374

Assume that you have the following information about an economy:

- Population over the age of 16: 249.7 Million

-Labor Force: 157.2 Million

-Not in the Labor Force: 92.5 Million

- Employed: 148.2 Million

- Unemployed: 9.0

A) What is the unemployment rate of this economy?

B) What is the labor force participation rate?

C) Suppose that 1 million currently unemployed workers decide to no longer actively look for work.What is the unemployment rate of the economy now?

D) What is the new labor force participation rate?

Reference no: EM131169374

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