Suppose the population (age 16 and over) of Peru is 400 million; 20 million are unemployed, and 230 million hold jobs. What are the rates of unemployment and labor force participation of Peru?
a. Unemployment is 8 percent, and labor force participation is 62.5 percent.
b. Unemployment is 8.7 percent, and labor force participation is 92 percent.
c. Unemployment is 8.7 percent, and labor force participation is 62.5 percent.
d. Unemployment is 5 percent, and labor force participation is 57.5 percent.
A
Economics
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A) a piece rate contract B) a profit-sharing contract C) a contact with a bonus D) All of the above.
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