1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of sox people: Sean, Yvette, Bob, Cho, Geniny, and Eric. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statesties (BLS), identily each person's status as employed, unemployed, "not in the labor force" not in the ovilan labor force but still part of the adult population), or "not in the adult population" if not in the ovilian adult population. Person Status Sean is a 25-year-old professional tennis player. When he's not competing, he works as a Unemployed coach at a local tennis club. Yvette is a 42 year-old autoworker who was just laid off by her employer Unemployed She is trying to find any kind of job to help make ends meet. Bob is a 78-year-old retired professor. He enjoys volunteering at the local public library. Not in the labor force Ginny is a 26-year old who lost her job as a copy editor for a local newspaper. She has Not in the labor force spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks, Eric is a 17 year old who just graduated from high school. He is taking it easy this Not in the adult population summeg, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home.
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of sox people: Sean, Yvette, Bob, Cho, Geniny, and Eric. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statesties (BLS), identily each person's status as employed, unemployed, "not in the labor force" not in the ovilan labor force but still part of the adult population), or "not in the adult population" if not in the ovilian adult population. Person Status Sean is a 25-year-old professional tennis player. When he's not competing, he works as a Unemployed coach at a local tennis club. Yvette is a 42 year-old autoworker who was just laid off by her employer Unemployed She is trying to find any kind of job to help make ends meet. Bob is a 78-year-old retired professor. He enjoys volunteering at the local public library. Not in the labor force Ginny is a 26-year old who lost her job as a copy editor for a local newspaper. She has Not in the labor force spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks, Eric is a 17 year old who just graduated from high school. He is taking it easy this Not in the adult population summeg, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....
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