Homework Help is Here – Start Your Trial Now!
Business
Economics
A country has 50 million people, 30 million of whom are adult noninstitutionalized civilians. Of the adult noninstitution civilians, 5 million are not interested in working, another 5 million are interested in working but have given up looking and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to w time, and the remaining 10 million are working full time. How many discouraged workers, in millions, does this country have? 20 What is this country's labor force participation rate (round to two decimal places)? x10 TOOLS

A country has 50 million people, 30 million of whom are adult noninstitutionalized civilians. Of the adult noninstitution civilians, 5 million are not interested in working, another 5 million are interested in working but have given up looking and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to w time, and the remaining 10 million are working full time. How many discouraged workers, in millions, does this country have? 20 What is this country's labor force participation rate (round to two decimal places)? x10 TOOLS

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question
A6
A country has 50 million people, 30 million of whom are adult noninstitutionalized civilians. Of the adult noninstitutionalized civilians, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. How many discouraged workers, in millions, does this country have? 20 million. What is this country's labor force participation rate (round to two decimal places)? %. x10 TOOLS
Transcribed Image Text:A country has 50 million people, 30 million of whom are adult noninstitutionalized civilians. Of the adult noninstitutionalized civilians, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. How many discouraged workers, in millions, does this country have? 20 million. What is this country's labor force participation rate (round to two decimal places)? %. x10 TOOLS
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Comparative Advantage
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS