A country has 200 million people aged 16 years and older. Of this working age population, 120 million are in the labor force and 114 million are employed. a.) What is the labor force participation rate for this country? [ Select ] b.) What is the unemployment rate? [ Select ] c.) Which of the following events would increase the unemployment rate, if nothing else changed? [ Select ] d.) Which of the following individuals would be formally classified as unemployed? [ Select ] e.) Which of the following individuals is experiencing cyclical unemployment? [ Select ]
C) options:
-Employed workers leave the labor force
-
-Workers from outside the labor force become employed
-Unemployed workers become employed
D) options:
- Jack Little, a 21 year old new college graduate actively looking for his first job
- Brenda Smith, an 18 year old full-time college student
-Sarah Lopez, a retired public school teacher
-Mario Faubert, a NHL hockey player at home sick with the flu
E) Options:
- Susan, a server that lost her job for frequently skipping her shift
- Alexi, a bartender who lost her job due to the COVID-19 pandemic and its associated recession
-Miguel, a nurse that has accepted a new job with better benefits and has a two week transition
- Rick, an assembly line worker lacking skills to find a new career after his employer offshored
![A country has 200 million people aged 16 years and older. Of this working-age population, 120 million are in the labor force and 114 million are employed.
a.) What is the labor force participation rate for this country?
[ Select ]
b.) What is the unemployment rate?
[ Select ]
c.) Which of the following events would increase the unemployment rate, if nothing else changed?
[ Select ]
d.) Which of the following individuals would be formally classified as unemployed?
[ Select ]
e.) Which of the following individuals is experiencing cyclical unemployment?
[ Select ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F314f0635-1dd9-4d26-9205-7f03c7b2e19c%2Fefdb38b6-d3ec-4859-850e-ceff85062850%2F33mpy9p_processed.jpeg&w=3840&q=75)
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