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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.