Problem
LounchPad. An economy has 100 people divided among the following groups: 25 have full-time jobs, two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up 1 10 are running their own businesses, 10 are retired, and 10 are small children 20 have one part-time job, 5 have oo king.
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.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.