Charles is a 75-year-old professor. He teaches only one or two courses a year, but still publishes research at a productive rate. Dina is a 25-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Gilberto is a 39-year-old graphic designer who is taking 2 years off from work to care for his young child. Neha is a 29-year-old who lost her job as an associate producer for a podcast. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. Lorenzo is a famous novelist. He is spending the summer at his lake house Wisconsin, doing a little writing each day but mostly spending his time gardening and reading. Juanita is a 13-year-old student at River Rock Middle School. She babysits her younger cousin and does other chores, so her parents give her an allowance of $30 per week. According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% O 50% Employed 60% Unemployed Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate = 100 x Number in Labor Force Adult Population Not in the labor force Not in the labor force Employed Not in the adult population
Charles is a 75-year-old professor. He teaches only one or two courses a year, but still publishes research at a productive rate. Dina is a 25-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Gilberto is a 39-year-old graphic designer who is taking 2 years off from work to care for his young child. Neha is a 29-year-old who lost her job as an associate producer for a podcast. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. Lorenzo is a famous novelist. He is spending the summer at his lake house Wisconsin, doing a little writing each day but mostly spending his time gardening and reading. Juanita is a 13-year-old student at River Rock Middle School. She babysits her younger cousin and does other chores, so her parents give her an allowance of $30 per week. According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% O 50% Employed 60% Unemployed Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate = 100 x Number in Labor Force Adult Population Not in the labor force Not in the labor force Employed Not in the adult population
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
is my answer right
Transcribed Image Text:Person
Charles is a 75-year-old professor. He teaches only one or two courses a year, but still
publishes research at a productive rate.
Dina is a 25-year-old recent college graduate
She did not work for pay last week, but she had two job interviews.
Gilberto is a 39-year-old graphic designer who is taking 2 years off from work to care for
his young child.
Neha is a 29-year-old who lost her job as an associate producer for a podcast. After
spending a few weeks out of work and interviewing for several other positions, she gave
up on her job search and decided to go back to grad school. She made that decision a few
months ago.
Lorenzo is a famous novelist. He is spending the summer at his lake house Wisconsin,
doing a little writing each day but mostly spending his time gardening and reading.
Juanita is a 13-year-old student at River Rock Middle School. She babysits her younger
cousin and does other chores, so her parents give her an allowance of $30 per week.
Labor Force Participation Rate =
33.33%
According to this formula, what is the labor force participation rate of this economy of six people?
40%
50%
100 X
60%
Status
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
Number in Labor Force
Adult Population
Employed
Unemployed
Not in the labor force
Not in the labor force
Employed
Not in the adult population
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
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
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
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)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
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-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education