30 Apr Question Z A BC DepLh3 Jol is a small economy. The information on the categories of the people in…
Question Z A BC DepLh3 Jol is a small economy. The information on the categories of the people in this economy is from a recent issue of the Jol Economic Watcher Agency shown in below Milllons 790 Have a full-time job Don’t have a job but are looking for one Don’t have a job and are not looking for one 335 675 Based on the given information: Calculate the Labour Force Participation Rate for this economy. (3.5 Marks) Calculate the Unemployment Rate for this economy. (1.5 Marks) Based on your answer in (b), what can you conclude about the economic situation in Jol? Briefly explain your answer. (2 Marks) Assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs State your answer whether INCREASE, DECREASE or NOT CHANGE for the following a. b. c. d. question ) Kef 35 years old, was discouraged by the poor job opportunities, so he was not working and not looking for a job. One day, his cousin calted him offering a job which he took Unemployment rate will (0.5 Mark) Labour force participation rate will
ark) baby is born: mployment rate will Mark) r force participation rate will ark) er 50 years of hard work, Jack, 70 years old, retires mployment rate will lark) r force participation rate will lark)
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