Answer the following questions. a) Suppose that there are 10 million people living in a certain country and its unemployment rate is known to be 10%. From these statistics, we can conclude that 1 million people of this country are unemployed. Do you agree? Explain. (3 marks) b) List the three main types of unemployment. (3 marks) c) What type of unemployment might older workers be more prone to experience than younger workers? Explain. (2 marks) d) Using the following data calculate the labor force participation rate. (2 marks) Working-age population = 220 million Labor force = 180 million Number employed = 160 million
