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Suppose the following data describe a nation's population: Year 1 Year 2 Population 310 million 320 million Labor Force 150 million 160 million...
Suppose the following data describe a nation's population:
Year 1 Year 2
Population 310 million 320 million
Labor Force 150 million 160 million
Unemployed 8.7 million 9.0 million
A. What is the unemployment rate in each year? Year 1
Year 2
B. Between Year 1 and Year 2,
(i) the number of unemployed persons
(ii) the unemployment rate
