Question 1 of 3
Step 1
Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups:
190 people who are employed.
10 people who are unemployed.
20 people who are students.
30 people who are retired.
60 people who are children.
What is the size labor force of Freelandia?
Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups: 190 people who are employed. 10 people who are unemployed. 20 people who are students. 30 people who are retired. 60 people who are children.
What is the population of Freelandia?
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Step 2
Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups:
190 people who are employed.
10 people who are unemployed.
20 people who are students.
30 people who are retired.
60 people who are children.
What is the unemployment rate in Freelandia? (fill in your answer as a decimal, for example if the answer is 15% fill in 0.15)
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Step 3
If a nation passes stronger laws protecting workers (e.g. stronger labor union laws or laws making it harder to fire workers), who benefits?
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