a) The number of unemployed is 3,970,449 b) The amount of people in the labor force is 18,020,663 c) The unemployment rate is 1- 15.21%, 2- 22.03%, 3- 28.26%, 4- 49.07% d) The labor force participation rate is 1- 30.99%, 2- 53.81%, 3- 69.01%, 4- 77.97% e) Ceteris paribus, if the number of employed people increased, the unemployment rate would 1- increase, 2- decrease, 3- remain unchanged
a) The number of unemployed is 3,970,449 b) The amount of people in the labor force is 18,020,663 c) The unemployment rate is 1- 15.21%, 2- 22.03%, 3- 28.26%, 4- 49.07% d) The labor force participation rate is 1- 30.99%, 2- 53.81%, 3- 69.01%, 4- 77.97% e) Ceteris paribus, if the number of employed people increased, the unemployment rate would 1- increase, 2- decrease, 3- remain unchanged
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
a) The number of unemployed is 3,970,449
b) The amount of people in the labor force is 18,020,663
c) The
1- 15.21%, 2- 22.03%, 3- 28.26%, 4- 49.07%
d) The labor force participation rate is
1- 30.99%, 2- 53.81%, 3- 69.01%, 4- 77.97%
e) Ceteris paribus, if the number of employed people increased, the unemployment rate would
1- increase, 2- decrease, 3- remain unchanged
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