Use the following data to calculate
a) the size of the labor force,
b) the official unemployment rate, and
c) the labor force participation rate for a hypothetical economy: population = 500; population 16 years or older and non-institutionalized = 400; people employed full- or part-time = 200; people unemployed and actively seeking work = 20; people who have quit seeking work due to lack of success = 10; part-time workers seeking full-time jobs = 30.