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Problem 3 (15 points) 1. Consider the data in the table and answer the question Total population 20,000 Working-age population 15.000 Employment 1,000 Unemployment 100 1. Calculate unemployment rate 2. Calculate labor force participation rate 3. Calculate part of the working age population who are not in the labor force 4. If there are 25 people employed, 20 people unemployed, and 30 people not in the labor force, what is the size of the labor force and what is the size of working age population? (show your calculation) a) 70; 50 b) 50; 75 c) 25; 45 d) 45; 75 5. If there are 25 people employed, 20 people unemployed, and 30 people not in the labor force, what is the labor force participation rate? (show your calculation) a) 44% b) 50% c) 60% d) 36%