Question 4 answer needed

size 4. Reservation wages each In the mid-1980s, a famous supermodel once said that she would not get out of bed for less than $10,000 (presumably per day). Chapter 7 The Labor Market 173 a. Go to the Web site of the International Labour Organi- zation (ILO) (http://www.ilo.org) to define the informal economy and informal labor. What are the possible rea- sons behind the large informal employment levels in de- veloping nations? b. What are the main advantages and disadvantages of the informal labor sector? Why do you think some nations with high levels of informality endeavor to include the informal sector and informal employment in their official statistics? c. Explain the method used by the ILO to estimate the level of informal employment. Detail all five steps used to produce the informal labor force. d. Extract data from the database of the ILO on the informal employment (http://laborsta.ilo.org/informal_economy_E .html). Select a developing nation of your choice and com- pare against each of India and China. Prepare a table include ing the share of informal employment in total employment per economic activity. What is the economic sector with the highest level of informal employment for the three nations? What is the share of female workers in the total workforce and the informal work force for the three nations