30 Apr Question: Question a38L7 In August 2009, the population of a small economy, Amia was 578 million. (Assume t…
Question a38L7 In August 2009, the population of a small economy, Amia was 578 million. (Assume that the population was stagnant for several months until December 2009). There were 533.4 million people in the labor force and 26.7 of them were considered unemployed. In September 2009, due to the usage of automation in several manufacturing companies, 0.7 million people were laid off. Out of these people, 0.1 million decided to retire and some decided not to look for job anymore. Based on the given infomation, answer the following questions. Show the formula and your workings. a. The unemployment rate in August 2009.(2 marks) b. The number of people employed in August 2009. (1 mark) c. Labor force participation rate in August 2009. (2 marks) d. The number of people employed in September 2009. (1 mark) e. The number of people unemployed in September 2009. (1 mark)
The unemployment rate in September 2009. Write your answer in two decimal places. (2 marks) What type of unemployment occurred in Amia? (1 mark) Which term refers to those who gave up and decided not to look for job anymore? f. g. h.
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