9. In a given economy, the population is 8000 people. Of these, 6000 are working, and…

9. In a given economy, the population is 8000 people. Of these, 6000 are working, and 400 are out of work but looking for a job. (a) (2 points) What is the unemployment rate in this economy? (b) (2 points) What is the labor force participation rate?