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The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries.
a. Calculate the number of people in the labor force for each country.
b. Calculate the labor force participation rate for each country, and put the figures in the blanks provided. Which country had the highest labor force participation rate? Which country had the lowest?
c. Calculate the unemployment rate for each country, and put the figures in the blanks provided. Which country had the highest unemployment rate? Which had the lowest?
Imagine Adam Smith living in today's economic climate. Describe what current economic issues about which he might be most concerned with and state why?
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Q. Explain the Says Law? GDP, and Say's Law Aggregate supply Y S = f(L, K) in the classical model where L is concluded in the labor market while K is
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