Assume the following data for a country: Number of People, Millions Category Total population Population under 16 years of age or institutionalized 500 120 Not in the labor force 140 Unemployed Part-time workers looking for full-time jobs 12 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent

Assume the following data for a country: Number of People, Millions Category Total population Population under 16 years of age or institutionalized 500 120 Not in the labor force 140 Unemployed Part-time workers looking for full-time jobs 12 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate unemployment rate if adult population of the nation is 800 people of which 450 people are working and 30 are looking for working.
Question Help The table gives information about a nation's labor force. Labor Market Data What is the number unemployed? Labor force 143.7 milion Not in labor force 714 million The number unemployed is million. Employed 136.9 million >>> Answer to 1 decimal place.
Scenario: The unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. Who is considered part of the 6 percent of unemployed workers in Country Y? A. John, who is taking a year off to travel after college B. Amanda, who works 20 hours per week at a coffee shop but wants to work full time C. Peter, an engineer who became a stay - at - home husband after his start- up company went bankrupt, but he wants to find a new engineering job D. All of the above
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Use the data below that describes a nation’s population to answer the following questions: a) How many people are unemployed each year? b) How many people are employed each year? c) What impact would a recession have on the full-employment rate of unemployment of 4.0%? Year 1 Year 2 Population 330 million 335 million Labor Force 170 million 175 million Unemployment rate 7 percent 6 percent
Suppose the following data describe a nation's population: Population Labor force Unemployment rate Year 1: Year 1 400 million 230 million 6 percent Instructions: Round your responses to one decimal place. a. How many people are unemployed in each year? million million b. How many people are employed in each year? Year 1: million Year 2: Year 2: Year 2 410 million 240 million 4.5 percent million
Laos' total population is 300,000. There are 60,000 people under the age of 16 in Laos. Laos' Labour Force size is 180,000. Currently there are 150,000 members of the Labour Force working. 1. What is Laos Labour Force Participation Rate? 2. What is Laos' unemployment rate?
Use the following data to calculate the unemployment rate. and answer the questions below total adult population = 256,436 persons under 16 = 75,126 total U.S. population = 332,568 # people working= 162,128 retirees = 85,745 total labor force = 172,476 discouraged workers = 15,546 part-time employed = 23,854 1. What is the unemployment rate? 2. Calculate an alternative measure of unemployment by counting discouraged workers as unemployed and counting part time employed as 1/2 employed and 1/2 unemployed. 3. Discuss under what conditions in the labor market it might be more accurate to use one method versus the other.
Use the following to answer questions 1-6: Working Age Population Labor Force # of Employed 1. What is the number of unemployed in year 1 in Table 6.1? (A) 60 million. (B) 5 million. 3. What is the unemployment (A) 57.1 percent. Population and labor force data Year 1 140 million 80 million 65 million 2. What is the number of unemployed in year 10 in Table 6.1? (A) 17 million. (B) 78 million. 4. What is the unemployment (A) 86.3 percent. (C) 15 million. (C) 13 million. (B) A positive relationship. (C) No relationship. (D) A negative relationship. rate in year 1 in Table 6.1? (B) 46.4 percent. (C) 18.75 percent. rate in year 10 in Table 6.1? (B) 13.7 percent. (C) 51.3 percent. 5. What is the labor-force participation rate in year 1 in Table 6.1? (A) 9.3 percent. (B) 81.3 percent. (C) 46.4 percent. 6. What is the labor-force participation rate in year 10 in Table 6.1? (A) 59.4 percent. (B) 8.1 percent. (C) 86.3 percent. Year 10 160 million 95 million 82 million (D) 75 million. (D) 65…
A6
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