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We have the following information about a small country.
Civilian Population = 300,000
Unemployment Rate = 15.00%
Labor Force Participation Rate = 60%
Calculate the following:
1. Size of the labor force =
2. Number of people unemployed =
3. Number of people employed =
4. Employment-Population Ratio = percent
5. The government officials of the country conveniently forgot to include the discouraged workers in their calculations. After some research you find out that there were a total of 11,250 discouraged workers in the country. Therefore, you conclude that the true unemployment rate was ? percent.
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