Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Sean is a 20-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. Yvette is a 30-year-old professional hockey player She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Bob is a 78-year-old retired professor. He enjoys volunteering at the local public library. Ginny is a 31-year-old science teacher who taught at River Rock Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Eric is a 20-year-old American Studies major at the University of Alabama. It's summer now, and he is working as a lifeguard in Memphis, Tennessee. Cho is a 11-year-old student at Moutain River Middle School. She babysits her younger siblings and does other chores, so her parents give her an allowance of $30 per week. Status
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Sean is a 20-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. Yvette is a 30-year-old professional hockey player She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Bob is a 78-year-old retired professor. He enjoys volunteering at the local public library. Ginny is a 31-year-old science teacher who taught at River Rock Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Eric is a 20-year-old American Studies major at the University of Alabama. It's summer now, and he is working as a lifeguard in Memphis, Tennessee. Cho is a 11-year-old student at Moutain River Middle School. She babysits her younger siblings and does other chores, so her parents give her an allowance of $30 per week. Status
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
Labor Force Participation Rate
According to this formula, what is the labor force participation rate of this economy of six people?
40%
50%
80%
O 100%
Complete the right half of the following equation to reflect the unemployment rate reported by the BLS.
Unemployment Rate
According to this formula, what is the unemployment rate of this economy of six people?
O 40%
50%
O 80%
O 100%
Transcribed Image Text:Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if
not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
Person
Sean is a 20-year-old professional tennis player. When he's not competing, he works as a
coach at a local tennis club.
Yvette is a 30-year-old professional hockey player
She finished her last season as a player 3 weeks ago and is currently interviewing for a
coaching position.
Bob is a 78-year-old retired professor. He enjoys volunteering at the local public library.
Ginny is a 31-year-old science teacher who taught at River Rock Middle School last year.
Due to budget cuts, she was laid off at the end of the school year. It's the summer now,
and after a few weeks of vacation with her family, she is looking for a part-time job as a
tutor.
Eric is a 20-year-old American Studies major at the University of Alabama. It's summer
now, and he is working as a lifeguard in Memphis, Tennessee.
.
Cho is a 11-year-old student at Moutain River Middle School. She babysits her younger
siblings and does other chores, so her parents give her an allowance of $30 per week.
Status
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