Question: (a) Define employed, unemployed and the labour force. (b)How is the unemployment rate calculated show an example. (c)What are the criticisms associated with the unemployment

(a) Define employed, unemployed and the labour force.

(b)How is the unemployment rate calculated show an example.

(c)What are the criticisms associated with the unemployment rate?

(d)Define and explain how the participation rate is calculated.

(e)Explain the significance of the participation rate when measuring the unemployment rate.

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