kindly answer the 3 following questions in economic ( the calculation in details

Question

kindly answer the 3 following questions in economic ( the calculation in details please )

Question One

A country has Labor Force (LF) of 155 million and out of total LF; 137 million are employed in different sectors of economy. Calculate the following?

a. Number of Unemployed

b. Unemployment Rate (%)

c. Labor Force Participation Rate (%) if the population equal to 234 Million

Question Two

In an economy, 3% of the employed workers lose their jobs and 20% of unemployed workers during the FY 2012. Calculate the natural rate of unemployment in that economy?

Question three

During a period of one year, if in an economy, 5% of the employed workers lose their jobs and 15% of unemployed workers find jobs. Calculate the natural rate of unemployment in that economy

Explanation / Answer

Question 1

(a) Number of Unemployed = 155 - 137 = 18 million

(b) Unemployment rate = (18/155)*100% =11.61 %

(c) Labor Force Participation Rate = (155/ 2340 *100% = 66.24%

Question 2

Consider the employment rate be x% and unemployment rate be (100-x)%

3% of x = 20% of (100-x)

3x = 2000 -20 x

x =86.96 %

Natural unemployment rate = 13.04% ans

question 3

In this economy
employed = 137 - 0.05*137 + 0.15*18 =132.85 M
Unemployed = 18 -0.15*18 + 0.05*137 = 22.15
Natural unemployment rate =( 22.15/ 155)*100%= 14.29% ans

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