Assignment 3 of Basic MacroeconomicsECON2021C, CUHKDeadline: 9 a.m. on April 27, 20201.Multiple Choice Questions
1. Which of the following is considered out of the labor force?
(a) the unemployed(b) those temporarily laid off who will soon be recalled(c) those who worked full time, but in a family business(d) those individuals who have started searching for employment for the firsttime(e) none of the above
Use the information provided below to answer the following questions.The non-institutional civilian population is 250 million, of which 100 million areemployed and 10 million are unemployed.2. Based on the information above, the unemployment rate is
3. Based on the information above, the labor force participation rate is