What is official unemployment rate
Problem: What is official Unemployment rate and that is the formula to come by the official Unemployment rate.
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In 2010 USA had 100 people and RGDP was $100. In 2011, USA had 103 people and RGDP was $102. What is the growth rate of RGDP Per person?
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Calculate the: a) Unemployment rate b) Labour force participation rate c) Employment
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