Size of civilian population: 30 M Number of employed: 15 M Number of unemployed: 0.5 M
(i) What is the size of this country’s labour force? 2 marks
(ii) Calculate the participation rate in the country. 2 marks
(iii) Calculate the rate of unemployment. 2 marks
(iv) How is the level of unemployment measured in an economy, and what are the difficulties which are likely to be encountered while doing so? [4 marks]