5. Say there are 250,000 people in a city. 162,000 worked for pay in the last week and the labor force participation rate is 68%. a) What's the unemployment rate in this city (to one decimal place)? Show your work. b) Say that the population and the number of people working for pay stays the same, but the unemployment rate falls. Explain how that can be the case, and give two possible specific reasons why it can happen. c) Over the course of the past few decades, how has the labor force participation rate changed for women and men in the U.S.?

5. Say there are 250,000 people in a city. 162,000 worked for pay in the last week and the labor force participation rate is 68%. a) What's the unemployment rate in this city (to one decimal place)? Show your work. b) Say that the population and the number of people working for pay stays the same, but the unemployment rate falls. Explain how that can be the case, and give two possible specific reasons why it can happen. c) Over the course of the past few decades, how has the labor force participation rate changed for women and men in the U.S.?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

question 5

5. Say there are 250,000 people in a city. 162,000 worked for pay in the last week and the
labor force participation rate is 68%.
a) What's the unemployment rate in this city (to one decimal place)? Show your work.
b) Say that the population and the number of people working for pay stays the same, but
the unemployment rate falls. Explain how that can be the case, and give two possible
specific reasons why it can happen.
c) Over the course of the past few decades, how has the labor force participation rate
changed for women and men in the U.S.?

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