Problem
Suppose that the unemployment rate is 5%, the total working-age population is 100 million, and the number of unemployed is 2.5 million. Determine: (i) the participation rate; (ii) the labor force; (iii) the number of employed workers; and (iv) the employment/population ratio.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.