(Solved): Consider a tiny hypothetical economy composed entirely of the following people: Kenjl, Lucia, Paolo ...

Consider a tiny hypothetical economy composed entirely of the following people: Kenjl, Lucia, Paolo, Sharon, Amy, and Van. Each person's employment status is given in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" if not in the civilian labor force but stili part of the adult population), or "not in the adult population "if not in the civilian aduit population. Complete the right half of the following equation to reflect the labor force participation rate reported by the Bus. Labor Force Participation Rate \( = \) According to this formula, what is the labor force participation rate of this economy of six people? \[ \begin{array}{l} 40 \% \\ 50 \% \\ 80 \% \\ 100 \% \end{array} \] Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Unemployment Rate \( = \) According to this formula, what is the unemployment rate of this economy of six people? \[ \begin{array}{l} 40 \% \\ 50 \% \\ 80 \% \\ 100 \% \end{array} \]