5.1 Study Plan Problem 2 (algo) Question Help The table gives information about the labour market in May 2017 in the economy of Sandy Island. Labour Market Data Number In May 2017 Calculate for May 2017 a. The unemployment rate b. The employment rate Employed Unemployed 20,000 1,000 And calculate for the end of June 2017 Not in labour force 3,000 c. The number of people unemployed, the number employed, and the unemployment rate During June 2017 Lost jobs and didn't look for new jobs 80 >>> Answer to 1 decimal place. Quit jobs and retired 30 In May 2017: Unemployed who were hired 150 Left the labour force 50 The unemployment rate is percent. Entered the labour force to look for work 50

5.1 Study Plan Problem 2 (algo) Question Help The table gives information about the labour market in May 2017 in the economy of Sandy Island. Labour Market Data Number In May 2017 Calculate for May 2017 a. The unemployment rate b. The employment rate Employed Unemployed 20,000 1,000 And calculate for the end of June 2017 Not in labour force 3,000 c. The number of people unemployed, the number employed, and the unemployment rate During June 2017 Lost jobs and didn't look for new jobs 80 >>> Answer to 1 decimal place. Quit jobs and retired 30 In May 2017: Unemployed who were hired 150 Left the labour force 50 The unemployment rate is percent. Entered the labour force to look for work 50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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C. Employment and Unemployment Rate 1. Calculate for the employment and unemployment rate when the total population of a country is 777million, 377 million workers are unemployed and 225 million are employed. Employment Rate b. Unemployment Rate 2. The total population of a country is 985 million, 640 million workers are unemployed & 265 million are employed. Calculate: a. Employment Rate b. Unemployment Rate 3. Suppose an economy has a population of 65million people. There are 10 million people who are unemployed, and 45 million people are employed. What is the unemployment rate? Employment Rate b. Unemployment Rate
1. Plot graph 2. Identify the relationship between economic growth and unemployment if any (positive, negative, no relationship) Use the data to justify your choice) 3. Does the relationship observed in number 2 satisfy the economic view of relationship between economic growth and unemployment? Use references to support your answer.
2. The inflation-unemployment relationship The following graph shows the combinations of unemployment and inflation that existed in the United States for selected years between 1961 and 1969. Click on any blue point (circle symbol) on the graph to get its exact coordinates. You can also use the black point (cross symbol) to find the coordinates of other points along the curve. (Note: You will not be graded for any adjustments made to the graph.) INFLATION RATE (Percent) 1989 5.0 4.5 1988 4.0 3.5 1967 3:0 2.5 2.0 1965 1964 1.5 1983 1961 1.0 0.5 0 3.0 3.5 40 45 5.0 5.5 6.0 8.5 7.0 UNEMPLOYMENT RATE (Percent) What happened to the inflation rate between 1965 and 1969? The inflation rate decreased from 1.9% to 1.5%. The inflation rate increased by 3 percentage points. The inflation rate decreased by 2 percentage points. O The inflation rate increased from 2.9% to 4.3%. ? If the unemployment rate had been 4.0% during the 1960s, the inflation rate would most likely have been:
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5. The total population is 98.4 million. The participation rate is 77.9%. The population employed is 49.8 million and the unemployment rate is 11.1%. a. How many people are in the labour force? b. How many are unemployed? c. How many people are in the civilian noninstitutional population?
8. T/F/U. The unemployment rate given that the number of employed workers is 180.5 million the number of non-working citizens is 76.856 million and the number of individuals no longer working and looking for a job is 70.8 million