Question

Suppose the number of employed people in Pakistan is 20.5 million. The
unemployment rate in this economy is 8.8 percent, and the labor force participation
rate is 65 percent. (1.5 Marks)
i. What is the size of the labor force and working-age population?
ii. How many people are unemployed?
b. Explain and analyze different government policies which affect the unemployment rate
in Pakistan? (1.5 Marks, Maximum 200 words).
c. Before June 2020, the labor market in Pakistan was at equilibrium with an equilibrium
wage (W E ) of Rs. 15,000 and equilibrium quantity of labor (L E ) 10 million. In the last
week of June, 2020, government of Pakistan imposed a minimum wage Act raising the
minimum wage to Rs. 20,000. Using a graph, explain the effect of imposition of
minimum wage on unemployment in labor market of Pakistan (2 Marks).

Answer 1

Answer:

thanks for the free points

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Answer 2

Answer:

sorry I didn't know

Explanation:

sorry