5 Find the labor force participation rate and unemployment rate given the following information about an economy Population (working age) 120 Labor Force 80 Employed 70 Assume in the problem above 5 of the unemployed became discouraged workers Calculate new official unemployment rate in this econom...

To find the labor force participation rate and unemployment rate we first need to define the terms L ...

5. Find the labor force participation rate and unemployment rate given the following information about an economy:

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5. Find the labor force participation rate and unemployment rate given the following information about an economy:

Population (working age) 120

Labor Force 80

# Employed 70

Assume in the problem above 5 of the unemployed became discouraged workers. Calculate new official unemployment rate in this economy. Comment on your finding.

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5. Find the labor force participation rate and unemployment rate given the following information about an economy:

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