Labor Force and Employment Agricultural vs. Manufacturing, 1870–1920) 12 10 People Employed in Agriculture People Employed in Manufacturing 1870 1880 1890 1900 1910 1920 Guiding Questions: What is the title of the graph? How many Americans were employed in agriculture in 1870? How many Americans were employed in manufacturing in 1870? In what year did more Americans work in manufacturing than agriculture? What trend does this graph show about the United States labor force? What evidence from the graph supports your analysis? What impact would this trend have on urban areas? 4, 2. Millions of persons 10 years and over

Labor Force and Employment Agricultural vs. Manufacturing, 1870–1920) 12 10 People Employed in Agriculture People Employed in Manufacturing 1870 1880 1890 1900 1910 1920 Guiding Questions: What is the title of the graph? How many Americans were employed in agriculture in 1870? How many Americans were employed in manufacturing in 1870? In what year did more Americans work in manufacturing than agriculture? What trend does this graph show about the United States labor force? What evidence from the graph supports your analysis? What impact would this trend have on urban areas? 4, 2. Millions of persons 10 years and over

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Labor Force and Employment
(Agricultural vs. Manufacturing, 1870–1920)
12
10
People Employed
in Agriculture
• People Employed
in Manufacturing
1870
1880
1890
1900
1910
1920
Guiding Questions:
• What is the title of the graph?
• How many Americans were employed in agriculture in 1870?
• How many Americans were employed in manufacturing in 1870?
• In what year did more Americans work in manufacturing than agriculture?
• What trend does this graph show about the United States labor force? What evidence from the graph
supports your analysis?
• What impact would this trend have on urban areas?
Millions of persons 10 years and over

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QUESTION 2 Country A's labor market displays the following data: Working age population: 10000 Labor Force: 7000 Unemployed: 1000 Vacancies: 800 What is the employment to population ratio? If your answer is - for example - 0.467, i.e. 46.7%, report 0.467 (3 decimals)
Question 3 The table below gives some labor statistics (from the Bureau of Labor Statistics) for years 1995, 2000 and 2005. Use these data to answer the following questions. Express your answers in percentage terms to two places past the decimal. Variable 1995 2000 2005 Population 26,000,000 27,000,000 28,000,000 Adult population 18,000,000 19,000,000 20,500,000 Adult population able to work 17,900,000 18,800,000 20,000,000 Adult population able and wanting to work 15,700,000 16,500,000 18,000,000 Number employed 14,000,000 14,500,000 15,000,000 Number unemployed 1,000,000 1,500,000 2,500,000 a. Define labor force. For each year find the labor force b. Define the labor-force participation rate. Calculate it for each year c. Calculate the unemployment rate for each year.
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Unemployment Question The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this information, answer the following questions. Show your work. These are numbers for the month of January. а. What is the labor force of Macroland for people between the ages of 18 and 65 in January? b. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? What is the labor force participation rate of Macroland for people between the ages of 18 and 65 in January? с. Now assume there were some changes in February. Of the people between the ages of 18 and 65 in Macroland, about 2000 who were looking for work now dropped out of the labor market, and stop looking for work. In addition, 8000 people who were previously…
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Note: typed answer with 100℅
Real Wage Number of Workers Demanded Labor Force Participation Rate 60 120,000,000 30% 70 110,000,000 35% 80 100,000,000 40% 90 90,000,000 45% 100 80,000,000 50% 110 70,000,000 55% 120 60,000,000 60% 130 50,000,000 65% 140 40,000,000 70% 150 30,000,000 75% 160 20,000,000 80% 170 10,000,000 85% Ignore everything that happened in the previous questions. We know that supply of labor can increase either because of an increase in labor force participation rate or an increase in civilian population. We saw the effect of the former above. This question is about the latter. The table above shows some pieces of information about the labor market condition in a country. It shows the number of workers demanded in the country at different levels of real wage. It also shows the labor force participation rates at those real wage levels. For example, if the real wage is 60, only 30% of the civilian population will participate in the labor force. If the real wage is…