None If the number of employed persons in a country equals24 million, the number of unemployed persons equals 8million, and the number of persons over age 16 in thepopulation equals 40 million, what is the unemploymentrate? a. 8 percent b. 20 percent c. 25 percent d. 32percent e. 30 percent

Unemployment rate is a crucial economic indicator that measures the percentage of people who are…

Answered: If the number of employed persons in a…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 18RQ: Are U.S. unemployment rates distributed evenly across the population?

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Similar questions

Many college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
What is frictional unemployment? Give examples of frictional unemployment.
Are U.S. unemployment rates typically higher, lower, or about the same as unemployment rates in other high-income countries?
Would you expect the natural rate of unemployment to be roughly the same in different countries?
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalanet. 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
Which of the following is included in the measurement of unemployment rate? Question 4Answer a. A 25-year old who is a stay-at-home parent b. A laid off worker who goes back to school full time c. A person who goes to job interviews every day d. A person serving his sentence in a maximum security prison
Assess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.
What is seasonal unemployment?

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If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, what is the unemployment rate? a. 8 percent b. 20 percent c. 25 percent d. 32 percent e. 30 percent