Give answer to every part step by step and take a like 19. Use the following table to answer the next three questions:Group# in MillionsWork-eligible population???Labor force161Not in labor force84Employed???Unemployed20QP7Somea. According to the above table, what is the unemployment rate in this economy?b. According to the table, what is the work-eligible population in this economy?a. According to the table, what is the labor force participation rate in this economy?

Given:Labor force: 161Not in Labor force: 84Unemployed: 20 19-a. Unemployment rate:…

Answered: 19. Use the following table to answer…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 1P

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Similar questions

If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
What is frictional unemployment? Give examples of frictional unemployment.
What is structural unemployment? Give examples of structural unemployment.
What criteria do the BLS use to count someone as employed? As unemployed?
Are U.S. unemployment rates distributed evenly across the population?
Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?
Under what condition would an increase in the unemployment rate be a positive sign?
What is the difference between being unemployed and being out of the labor force?
Whose unemployment rates are commonly higher in the U.S. economy: Whites or nonwhites? The young or the middle-aged? College graduates or high school graduates?
Would you expect the natural rate of unemployment to be roughly the same in different countries?
Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big way. If we assume that wages are sticky in a downward direction, but that around 1970 the demand for labor equaled the supply of labor at the current wage rate, what do you imagine happened to the wage rate, employment, and unemployment as a result of increased labor force participation?

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