Unemployment rate in arbitland


Consider the given labor statistics Labor Stats

The Labor Market

This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Arbitland.

1. Not in labor force

a. male: 45 million

b. female: 35 million

2. Unemployed

a. male: 5 million

b. female: 5 million

3. Employed

a. male: 85 million

b. female: 65 million

Question 1: What is the total population of persons over the age of 16 in Arbitland?

If labor force includes everyone age 16 and older who is actually working or seeking for a job, then:

Question 2: What is the labor-force participation rate in Arbitland?

Question 3: What is the unemployment rate in Arbitland?

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Macroeconomics: Unemployment rate in arbitland
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