Business, 22.09.2020 16:01 alemicsho2397

An economy has 365 people divided among the following groups: 60 have full-time jobs, 10 have one part-time job, 10 have two part-time jobs, 25 would like to work and are looking for jobs, 35 would like to work but are so discouraged they have given up looking, 40 are running their own businesses, 15 are retired, and 170 are small children. Required:
a. Calculate the labor force and the labor-force participation rate.
b. Calculate the number of unemployed and the unemployment rate.
c. Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.

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An economy has 365 people divided among the following groups: 60 have full-time jobs, 10 have one pa...

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