(b) Using the following data calculate: (i) (ii) (iii) (iv) (v) The number of persons employed. The number of persons unemployed. The labour force. The Labour Force Participation rate. The "official" unemployment rate. 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 6543 Discouraged Workers 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 543 recent university graduates that are going back to graduate school 5000 armed forces 3500 institutionalized

(b) Using the following data calculate: (i) (ii) (iii) (iv) (v) The number of persons employed. The number of persons unemployed. The labour force. The Labour Force Participation rate. The "official" unemployment rate. 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 6543 Discouraged Workers 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 543 recent university graduates that are going back to graduate school 5000 armed forces 3500 institutionalized

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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