Question:
i) Briefly explain the micro and macro dimensions of workforce.
ii) Assuming that in Town X:
a. there was a stock of 500 MBA graduates at the end of year 2000;
b. the annual outturn was 100 from 2001 to 2004 and 150 from 2005 to 2007;
c. 20 percent of outturn pursue higher studies yearly;
d. the rate of attrition is 10 percent over the years; and
e. the labour force participation rate is 50 percent.
Determine the effective stock of manpower from 2000 to 2007 and the corresponding labourforce.
Round up figures whenever required to obtain integers.