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ECONOOZ Discussion Session 7 |Name: 7 5. Using table 8-], Calculate the Employment to Population Ratio in Nellyville. (I o ECON002 Discussion Session 7 Assignment 2' 2(5),; Identi/ the choice that best completes the statement or answers the question. 0' 80V: d. 90% 1. Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market defmitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Also, assume that nobody in Nellyville is institutionalized. Table 871 Population (of which 2/3 are 16 and older) 15,000 Full-time Students 2000 Retired 1 500 Currently Working 4000 Called in Sick 300 Full-time homemakers (stay at home moms and dads) 1000 Currently on Vacation 200 Others Not Working (100 are too disabled to work and 400 quit looking for 1000 work months ago. The other 500 are actively seeking employment.) What is the population in Nellyville that the Bureau of Labor Statistics cares about examining for their statistics concerning the labor force participation rate and employment to population ratio? a. 4,000 b. 5,000 0. 10,000 0. 15,000 2. Using table 8-1, Calculate the Civilian Labor Force in Nellyville a. 4,000 b. 5,000 0 6,000 d 10,000 3. Using table 8-], Calculate the Labor Force Participation Rate in Nellyville. a. 33.3% b. 50% C. 80% d. 90% 4. Using Table 8-], Calculate the Unemployment Rate in Nellyville. a. 3.33% b. 5% c. 10% d. 20%