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What is the size of the labor force

Problem: Assume the following data for a country: total population, 500; population under 16 years of age are institutionalized, 120; not in labor force, 150; unemployed, 23, part-time workers looking for full time jobs, 10. What is the size of the labor force? what is the official unemployment rate?

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Macroeconomics: What is the size of the labor force

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: What is the size of the labor force

Reference No:- TGS01746105

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

Q : Why is unemployment necessary for the economy

Q : Consequences relevant to finance and economics

Q : Type of unemployment caused by the recession

Q : Earnings of athletes

Q : What is the size of the labor force

Q : Impact of raising the federal minimum wage on a firm

Q : Current market failure in the u.s. economy

Q : Is mta a monopolist in new york city

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: What is the size of the labor force

Reference No:- TGS01746105

Recent Questions Asked Macroeconomics

Q : Why is unemployment necessary for the economy

Q : Consequences relevant to finance and economics

Q : Type of unemployment caused by the recession

Q : Earnings of athletes

Q : What is the size of the labor force

Q : Impact of raising the federal minimum wage on a firm

Q : Current market failure in the u.s. economy

Q : Is mta a monopolist in new york city

Q : Outsourcing the product

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