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Economics
Tutor: None Selected Time limit: 1 Day

Data for an economy shows that the unemployment rate is 10%, the participation rate 75 percent, 200 million people 16 years or older are not in the labor force. How many people are employed in this economy? 

Answer: 540 million

Aug 11th, 2014

Participation rate =75%

Non participation rate =25%

25% =200 million

100% = 800 million

Participation labor force = 800*0.75 =600

Unemployment rate =10%

Employed =600*(0.9) = 540 million



Aug 11th, 2014

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Aug 11th, 2014
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Aug 11th, 2014
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