With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force
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With the information provided, determine the unemployment rate for each of these hypothetical economies.
a. Labour force \(=20\) million; number of people unemployed \(=1.5\) million; population \(=30\) million.
b. Number of people employed \(=14\) million; labour force \(=16\) million.
c. Number of people unemployed \(=900000\); number of people employed \(=2.25\) million.
d. Labour force \(=8.2\) million; number of people unemployed \(=500000\); population \(=13.5\) million.
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