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a) 125 b) 180 C245 d) 295 e) 400 What is the unemployment rate? a) 3.75% b) 4.4% C 7.0% d) 7.5% e) 7.9% What is the labor force participation rate? a) 50.0%

a) 125 b) 180 C245 d) 295 e) 400 What is the unemployment rate? a) 3.75% b) 4.4% C 7.0% d) 7.5% e) 7.9% What is the labor force participation rate? a) 50.0%

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Springfield is a small town with a total civilian population of 800. Of this population, 125 are under the age of 16. Of the population 16 and over, there are 350 working full-time and another 50 working part-time. Of the remaining adult population, 30 people recently quit their jobs in order to look for better employment. Finally, there are 40 full-time students (not working), 180 retired and another 25 stay-at-home spouses. 

How many people are not in the labor force (NIELF) a) 125 b) 180 C245 d) 295 e) 400 What is the unemployment rate? a) 3.75% b) 4.4% C 7.0% d) 7.5% e) 7.9% What is the labor force participation rate? a) 50.0% b) 53.75% 59.26% d63.7% e) 84.38%
Transcribed Image Text:How many people are not in the labor force (NIELF) a) 125 b) 180 C245 d) 295 e) 400 What is the unemployment rate? a) 3.75% b) 4.4% C 7.0% d) 7.5% e) 7.9% What is the labor force participation rate? a) 50.0% b) 53.75% 59.26% d63.7% e) 84.38%
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