3. The Government of Econoland is concerned about employment conditions. You are asked to conduct a...

 

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3. The Government of Econoland is concerned about employment conditions. You are asked to conduct a research on this matter, and therefore collect the following data: Total Population = 100,000 Civilian Adult Population = 80,000 Labor Force 50,000 Number of People Employed = 40,000 Based on the above information, compute (a) the number of people who are out of the labor force, (b) the labor force participation rate, (c) the employment rate and (d) the unemployment rate. Show your work. 3. The Government of Econoland is concerned about employment conditions. You are asked to conduct a research on this matter, and therefore collect the following data: Total Population = 100,000 Civilian Adult Population = 80,000 Labor Force 50,000 Number of People Employed = 40,000 Based on the above information, compute (a) the number of people who are out of the labor force, (b) the labor force participation rate, (c) the employment rate and (d) the unemployment rate. Show your work.