Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force?
Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please answer a, b and c.
The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was.
| Respondent | Number of Hours Worked | Hourly Wage |
| 1 | 40 | $10 |
| 2 | 20 | $6 |
| 3 | 40 | $8 |
| 4 | 0 | $0 |
| 5 | 50 | $20 |
a. What is the average hourly wage for those who worked?
b. For those who worked, what is the average number of hours worked?
c. What is the
d. What additional information would you need to know to determine if the fourth respondent is in the labour force?
e. What is the labour force participation rate if everyone but the fourth respondent is in the labour force?
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