Economics | Question in description | Question 8

Calculate the

(1) unemployment rate, (2) labor force participation rate, (3) adult population and (4) the total population for the small town with the following statistics: employed = 1,000, labor force = 1,400, Not in the Labor Force = 1,000 and minor population of 500. How is the town doing, if the Natural rate of Unemployment (NRU) is 6% in the town.

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