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Business, 03.03.2020 02:49 adantrujillo1234

Suppose a country using the United States' system of calculating official unemployment statistics has 100 million people, of whom 50 million are working age. Of these 50 million, 20 million have jobs. Of the remainder: 10 million are actively searching for jobs; 10 million would like jobs but are not searching; and 10 million do not want jobs at all. a. Calculate the labor force b. What is the labor force participation rate? c. What is the official unemployment rate?

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