Use the following information about Employment Country to answer the following questions. Numbers are in millions.

a. What is the labour force in 2013 and 2014?

b. What is the growth rate of labour force between 2013 and 2014?

c. What is the unemployment rate in 2013 and 2014?

d. From 2013 to 2014, the adult population went up while the labour force went down. Provide a number of explanations why this might have occurred.

If the natural rate of unemployment (equilibrium unemployment) in Employment Country is 6.6 percent, what is the maximum that cyclical unemployment could be in 2013 and 2014? Is Employment Country likely to be experiencing a recession in either of these years?

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Population Adult population Number of unemploymed Number of employmed 2013 223.6 168.2 7.4 105.2 2014 226.5 169.5 8.1 104.2 Population Adult population Number of unemploymed Number of employmed 2013 223.6 168.2 7.4 105.2 2014 226.5 169.5 8.1 104.2

Answer rating: 100% (QA)

a Labor force Number of unemployed Number of employed Labor force in 2013 74 1052 1126 million Labor ... View the full answer