### Measuring the Labor ForceThis section provides a comprehensive understanding of measuring the labor force and includes the following key topics:#### A. Define the Labor Force- **Description:** The labor force includes individuals who are actively engaged in the workforce, consisting of both the employed and the unemployed who are seeking work.- **Age Groups:** Generally, the labor force encompasses individuals aged 16 and over who are either working or actively seeking employment.#### B. Labor Force Participation Rate- **Definition:** The labor force participation rate refers to the percentage of the working-age population that is either employed or actively seeking employment.- **Historical Trends:** - **Male Participation Rate:** Analyzing historical data reveals changes in the male labor force participation rate since the 1950s. Exploration is needed to understand whether this rate has increased or decreased and the contributing factors to such patterns. - **Female Participation Rate:** Similarly, examining the trend of the female labor force participation rate since the 1950s helps identify whether there has been an increase or decrease and what factors influenced this change.#### C. Employment Ratio- **Definition:** The employment ratio is a statistic that represents the proportion of the working-age population that is currently employed.#### D. Civilian Unemployment Rate- **Definition:** The civilian unemployment rate measures the percentage of the labor force that is unemployed but actively seeking work.- **Causes of Fluctuations:** - **Increase in Unemployment Rate:** Understanding the economic or social factors that contribute to a rise in the unemployment rate. - **Decrease in Unemployment Rate:** Identifying the factors that drive a reduction in the unemployment rate.- **Business Cycle Variations:** Analyzing how the civilian unemployment rate changes in response to different phases of the business cycle. This detailed breakdown aims to facilitate a deeper understanding of how the labor force is measured and the various factors that influence employment statistics.

The labor force consists of the people who are currently employed plus the people who are looking…

2. Measuring the labor force: A. Define the labor force. What are the age groups considered part of the labor force. B. Define the labor force participation rate. Has the male labor force participation rate increased or decreased since the 1950s? What are factors behind this pattern? Has the female labor force participation rate increased or decreased since the 1950s? What are factors behind this pattem? C. Define the employment ratio.

2. Measuring the labor force: A. Define the labor force. What are the age groups considered part of the labor force. B. Define the labor force participation rate. Has the male labor force participation rate increased or decreased since the 1950s? What are factors behind this pattern? Has the female labor force participation rate increased or decreased since the 1950s? What are factors behind this pattem? C. Define the employment ratio.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Describe how the labor force participation rate in the United States changed between 1960 and 2019. Contrast and explain the different trends in the labor force participation rates of women and men. The labor force participation rate in the United States _______. A. remained relatively constant between 1960 and 2000 B. shows a downward trend between 1960 and 1999, and an upward trend that began in 2000 C. shows an upward trend between 1960 and 1999, and a downward trend that began in 2000 D. is an unreliable measure because the labor force does not include discouraged workers and marginally attached workers
Explain how the decision to participate in the labour force is made. Include an indifference curve analysis diagram.
Please do fast ASAP fast
Suppose the money wage rate rises from $40.00 to $46.20 an hour and consumer prices rises by 10 percent. What would be the effect in the labor market? We would expect _______ people to try to find a job and employed people to want to work _______ hours. A. fewer; shorter B. more; longer C. the same number of; the same number of D. fewer; longer The _______ would _______. A. quantity of labor supplied; decrease B. supply of labor; decrease C. quantity of labor supplied; increase D. supply of labor;
Matt loses his job as a solar panel installer and cannot find another position with equivalent pay and benefits. As a result, he is still According to economists, which term best describes Matt? a. under employed O b. a discouraged worker O c. unemployed Od out of the labour force
2. Discuss the labor-force participation trends for men and women since 1950
please answer question C & D