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The following table defines some population and employment statistics for two countries. Sweet ...

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The following table defines some population and employment statistics for two countries. Sweet ...

The following table defines some population and employment statistics for two countries.

	Sweet Country	Spicy Country
Population	500 million	510 million
Unemployment rate	4%	5%
Labor participation rate	82%	76%

Refer to the table above. If two-thirds of the population in both countries are considered to be potential workers, how many people are unemployed?

▸ About 20 million in Sweet Country and 25 million in Spicy Country

▸ About 18 million Sweet Country and 20 million Spicy Country

▸ About 11 million in Sweet Country and 13 million in Spicy Country

▸ About 16 million in Sweet Country and 19 million in Spicy Country

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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Thanks

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