Consider two hypothetical countries. In Country A, 18 percent of the labour force is unemployed for half the year and employed for the other half; the remaining 82 percent of the labour force is never unemployed. In Country B, 100 percent of the labour force is unemployed for 9 percent of the year and employed for the other 91 percent of the year. Note that both countries have an overall unemployment rate of 9 percent. Which of these countries seems to have the more serious unemployment problem, and why? O A. Country A because unemployment is unevenly distributed there. B. Country A because the unemployment is most likely cyclical. O C. Country B because unemployment is unevenly distributed there. O D. Country B because people are unemployed for the longer period of time. O E. The answer is ambiguous. Both countries have very unevenly distributed unemployment.

Consider two hypothetical countries. In Country A, 18 percent of the labour force is unemployed for half the year and employed for the other half; the remaining 82 percent of the labour force is never unemployed. In Country B, 100 percent of the labour force is unemployed for 9 percent of the year and employed for the other 91 percent of the year. Note that both countries have an overall unemployment rate of 9 percent. Which of these countries seems to have the more serious unemployment problem, and why? O A. Country A because unemployment is unevenly distributed there. B. Country A because the unemployment is most likely cyclical. O C. Country B because unemployment is unevenly distributed there. O D. Country B because people are unemployed for the longer period of time. O E. The answer is ambiguous. Both countries have very unevenly distributed unemployment.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to collect: Unemployment rate 6% Participation rate 62.5% Not in the labor force 63.5 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses rounded to one decimal place.Labor force: millionWorking-age population: millionNumber of employed workers: millionNumber of unemployed workers: million
If the labor force of 160 million people is growing by 1.2 percent this year, how many new jobs have to be created each month to keep unemployment from increasing?
a ) Marie recently graduated from college with a degree in electrical engineering, but she has not yet started working. When will she be counted as “unemployed” according to the BLS? b) Eric was laid off, but he is expecting to be recalled. He has not looked for work since being laid off. Natalie is not employed, nor was she laid off. Who is counted as “unemployed” in the U.S. labor force statistics? c) What are the four different types of unemployment? Explain each.
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult population is out of the labor force. What’s the unemployment rate? What share of population is in the labor force? (Show your work in your answer.)
The Bureau of Labor Statistics reported that in December 2015, the labor force was 157.8 million, employment was 149.9 million, and the working-age population was 252.0 million. Calculate the unemployment rate and the labor force participation rate. The unemployment rate was nothing percent. >>> Answer to 1 decimal place. The labor force participation rate was nothing percent. >>> Answer to 1 decimal place.
What is the unemployment rate in an economy where the entire adult population can be categorized as follows: • 32 million people employed • 2 million people unemployed • 1 million discouraged workers, and • 1 million people who are either students, homemakers, retirees, or other people not seeking employment. 6.3% 5.6% 5.9% 4.8%
Suppose an economy is given by: Population = 203 million Working-age population = 124 million Labor force = 77 million The number of people employed = 70 million The number of people unemployed = 7 million The labor force participation rate for this economy is %. (Enter your response rounded to one decimal place.)
Suppose the labor force is 189 million of a possible 244 million working-age adults. The total number of unemployed is 15 million. What is the standard unemployment rate? Instructions: Enter your response rounded to one decimal place. The standard unemployment rate is | percent.
The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of people discouraged workers 2 million Would the number of people employed part-time be included in labour force or not? Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?
In the country of Economica, the total labor force consists of 5,000 workers. 250 of these workers are unemployed, and thus the current unemployment rate is 5.0%. This year, 100 workers will lose their jobs, 85 workers will return to the labor force after an absence, 50 workers will voluntarily leave their jobs, and 250 new workers will enter the labor force. At the same time, 363 workers will find jobs, and 150 workers will retire or leave the labor force for other reasons. Thus, at the end of the year, the labor force will consist of workers, and the unemployment rate will be%. (Round your responses to one decimal place.)
The table describes hypothetical employment statistics for a country in a given year. Full-time workers and voluntary part-time workers 156 million Labor force 168 million Involuntary part-time workers Discouraged workers Based on the information, what is the unemployment rate? Enter your answer as percentage rounded to one decimal place. 4 million 2 million %2
Assume you have the following information about the unemployment rate among differentgroups in the labor force: adult males 5%, adult females 4.5%, and teenagers 12%. Teenagers account for15% of the work force and, women account for 40% of the adult labor force. What is the actual nationwideunemployment rate?