question archive 6) b) An economy of the island XYZ consists of 6200 self-employed and 2000 employed individuals, 900 individuals are out of work but are actively seeking work
6) b) An economy of the island XYZ consists of 6200 self-employed and 2000 employed individuals, 900 individuals are out of work but are actively seeking work
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6) b) An economy of the island XYZ consists of 6200 self-employed and 2000 employed individuals, 900 individuals are out of work but are actively seeking work. The total population consists of 12000 people. What proportion of the population would be considered inactive? (6 marks)
6. c. An economy has a population of 120m people, of which 20m people are unemployed, 50m are economically inactive and the rest are employed. Calculate the unemployment rate, the labour force size, and labour participation rate. (12
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6b. 0.2417
6c. Unemployment rate=28.57%
Labour force size=70M
Labour force participation rate=58.33%
Step-by-step explanation
6b. 0.2417
6c. Unemployment rate=28.57%
Labour force size=70M
Labour force participation rate=58.33%
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