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Labor force and unemployment rate

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Calculate the following given the information about the economy in the table.

Total Population 260 million
Non institutional population 200 million
Incapable of working 60 million
Not in the labor force 66 million
Employed 134 million
Unemployed 10 million

a. Labor force
b. Unemployment rate

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Solution Summary

The labor force and unemployment rate is determined.

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