Question:
According to the data, which of the following best describes the changes to the rate of employment and the rate of labour force participation? (Year 1: LF=15, Unemp=3, Pop=25. Year 2: LF=20, Unemp=4, Pop=30)
(1) Decreased / Increased
(2) Increased / Unchanged
(3) Unchanged / Increased
(4) Increased / Increased
(5) Unchanged / Decreased
Correct Answer:
(3)
Answer Explanation:
Year 1 Employment Rate = (15-3)/15 = 80%. Year 2 Employment Rate = (20-4)/20 = 80% (Unchanged). Year 1 LFPR = 15/25 = 60%. Year 2 LFPR = 20/30 = 66.6% (Increased).
Topic: Unemployment Year: 2023
Leave a Reply