Zandaland is a country with a population of 110 million. Out of this population, the number of retired people is 14 million, the number of people below working age (under 16 years) is 20 million, and the number of people under different types of institutional care is 1 million. In this country, employment amount to 55 million people and unemployment amount to 3 million people. Calculate the following and show your work:               Working-age population Unemployment rate The economic activity rate        Employment rate

Economics (MindTap Course List)
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Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
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Zandaland is a country with a population of 110 million. Out of this population, the number of retired people is 14 million, the number of people below working age (under 16 years) is 20 million, and the number of people under different types of institutional care is 1 million. In this country, employment amount to 55 million people and unemployment amount to 3 million people. Calculate the following and show your work:            

 

  1. Working-age population
  2. Unemployment rate
  3. The economic activity rate       
  4. Employment rate    
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