Which of the following statements is correct regarding the labour market?Select the correct answerGroup of answer choicesemployment rate = employed ÷ labour forceparticipation rate = (employed+unemployed) ÷ (population of working age)unemployment rate = unemployed ÷ population of working ageThe number of discouraged workers is the unemployment rate

Which one of the following statements is false?Group of answer choicesThe labour force is defined as the total number of people that are working or available and seeking to work.The labour force is defined as the total working age population.The labour force participation rate is the number of people in the labour force divided by the total working age population.The unemployment rate is the number of unemployed people divided by the total labour force.

The unemployment rate is equal to the number of unemployed persons divided by _______ x100.Group of answer choicesThe total populationThe adult populationThe labor forceNone of the above

The unemployment rate is calculated by dividing the number of ______ by the ______ times 100.Multiple choice question.the labour force; unemployedunemployed; labour forcethe labour force; employedemployed; labour force

Data for an economy shows that the unemployment rate is 5%, the participation rate is 60%, and 20 million people 15 years or older are not in the labour force. How many people are unemployed this economy?Group of answer choices1.8 million 0.6 million1.2 million1.5 million

Suppose the total population in the economy is constant. An increase in the number of people unemployed at the same time that the labour force participation rises implies that Group of answer choices the number of people employed must have increased the unemployment rate must have increased there must be a reduction in the number of people not in the labour force all of the other options are correct