Suppose an economy has the following characteristics: 100 people ...

[cagreen833]

Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 40 people employed; 50 people not in the labor force. How many people are unemployed?
 
  A) 100
  B) 90
  C) 50
  D) 40
  E) 10

Question 2

Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 40 people employed; 50 people not in the labor force. How many people are in the economy's labor force?
 
  A) 40
  B) 50
  C) 90
  D) 100

[kjo;oj]

Answer to Question 1

E

Answer to Question 2

B

[cagreen833]

TYSM

[tranoy]

Thanks for the timely response, appreciate it