Use the following information on an economy: Working-age population = 200million, currently working = 120 million, currently looking for work= 10 million, currently available for work but not working because they have given up searching for work = 2 million, available for work but not working due to transportation problems = 1 million, full time students, retirees and homemakers = 7 million. Assume the natural rate of unemployment (NRU) for this economy is 5 percent. Given the data above the official unemployment rate ia______percent. t, while the labor force participation rate is_____percen
A) 8.5%; 63.5% B) 6.0%; 60% C) 10%; 60% D) 7.6%; 65%