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  3. a2 consider the population of a small country assuming that...

Question: a2 consider the population of a small country assuming that...

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a2. Consider the population of a small country, assuming that the number of people in each category is as follows:(5 marks) Total population 1,200 Children under age 16 200 Elderly retired people-300 Full-time students20 Full-time homemakers- 30 People working full time 420 People working part time 120 People not working but seeking employment 60 People not working but have given up seeking employment 50 a. b. c. Calculate the labor force participation rate. Calculate the unemployment rate How does the unemployment rate understate the problem of unemployment? Unrelated to the above d. What is the unemployment rate of Canada? BC?
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