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labor-force participation rate in Arbitland

. Consider the follow labor statistics Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Arbitland.
1. Not in labor force
a. male: 45 million
b. female: 35 million
2. Unemployed
a. male: 5 million
b. female: 5 million
3. Employed
a. male: 85 million
b. female: 65 million

a. What is the total population of persons over the age of 16 in Arbitland?
If labor force includes everyone age 16 and older who is actually working or seeking for a job, then:

b. What is the labor-force participation rate in Arbitland?

c. What is the unemployment rate in Arbitland?

Solution Preview

a. What is the total population of persons over the age of 16 in Arbitland?

This is the sum of all people who are employed and those who are unemployed and those who are not seeking employment. The total number of employed people is 85 + 65 = 150 million. The total number of unemployed is 5 + 5 = ...

Solution Summary

This solution exemplifies labor-force participation rate in Arbitland.

$2.19