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Why are there always some people unemployed

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Reference no: EM133538685

Problem

Question I. If the population of a country is 20 million, the working age population is 15 million, the number of employed is 9 million and the number unemployed is 1 million:

Question A. What is the size of the labour force?
Question B. What is the participation rate?
Question C. What is the unemployment rate?

Question II. Why are there always some people unemployed? Give example observed and natural unemployment rates, 1966-2018.

Question III. How productivity is determined.

Question IV. Discuss GDP and Economic Well-Being. GDP excludes the value of what activities?

Question V. Explain the components of Canadian GDP in 2018.

Reference no: EM133538685

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