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I. Manza's economy has 500 individuals with full-time jobs. In that economy, 300 have one part-time job and 100 have two part-time jobs. The data also indicates that 150 would like to work and are looking for jobs, 90 would like to work but are so discouraged they have given up looking, 110 are running their own businesses, 70 are retired, and 120 are small children. a. b. ts) Calculate the labor force, working-age population, and the labor-force participation rate. t) Calculate the unemployment rate.

I. Manza's economy has 500 individuals with full-time jobs. In that economy, 300 have one part-time job and 100 have two part-time jobs. The data also indicates that 150 would like to work and are looking for jobs, 90 would like to work but are so discouraged they have given up looking, 110 are running their own businesses, 70 are retired, and 120 are small children. a. b. ts) Calculate the labor force, working-age population, and the labor-force participation rate. t) Calculate the unemployment rate.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I. Manza's economy has 500 individuals with full-time jobs. In that economy, 300 have one part-time job and 100 have two part-time jobs. The data also indicates that 150 would like to work and are looking for jobs, 90 would like to work but are so discouraged they have given up looking, 110 are running their own businesses, 70 are retired, and 120 are small children. a. b. ts) Calculate the labor force, working-age population, and the labor-force participation rate. t) Calculate the unemployment rate.
Transcribed Image Text:I. Manza's economy has 500 individuals with full-time jobs. In that economy, 300 have one part-time job and 100 have two part-time jobs. The data also indicates that 150 would like to work and are looking for jobs, 90 would like to work but are so discouraged they have given up looking, 110 are running their own businesses, 70 are retired, and 120 are small children. a. b. ts) Calculate the labor force, working-age population, and the labor-force participation rate. t) Calculate the unemployment rate.
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