Assume a country has a total population of 58 million, of which 70 per cent are part of the working-age population. 16.5 million working-age people are not looking for a job, and 19.4 million are employed. What are the labour force participation rate (LFPR) and the unemployment rate (u)?a.LFPR = 41.6%; u = 19.5%b.LFPR = 59.4%; u = 19.5%c.LFPR = 59.4%; u = 32.8%d.LFPR = 41.6%; u = 32.8%

First, let's calculate the working-age population. This is 70% of the total population, so:

Working-age population = 0.70 * 58 million = 40.6 million

Next, we calculate the labour force. The labour force is the number of people who are either employed or actively looking for work. In this case, it's the working-age population minus the people who are not looking for a job:

Labour force = Working-age population - People not looking for a job Labour force = 40.6 million - 16.5 million = 24.1 million

The Labour Force Participation Rate (LFPR) is the percentage of the working-age population that is in the labour force. So:

LFPR = (Labour force / Working-age population) * 100% LFPR = (24.1 million / 40.6 million) * 100% = 59.4%

Next, we calculate the number of unemployed people. This is the labour force minus the number of employed people:

Unemployed people = Labour force - Employed people Unemployed people = 24.1 million - 19.4 million = 4.7 million

The unemployment rate (u) is the percentage of the labour force that is unemployed. So:

u = (Unemployed people / Labour force) * 100% u = (4.7 million / 24.1 million) * 100% = 19.5%

So, the LFPR is 59.4% and the unemployment rate is 19.5%. The correct answer is (b) LFPR = 59.4%; u = 19.5%.