pose during a year working-age population increased by 1%, labor force participation decrea ber of unemployed people increased by 4%. (Note: these numbers are rates of growth of t ending variables.) By how much did the unemployment rate increase or decrease? "*

pose during a year working-age population increased by 1%, labor force participation decrea ber of unemployed people increased by 4%. (Note: these numbers are rates of growth of t ending variables.) By how much did the unemployment rate increase or decrease? "*

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the following table to answer the next four questions: Group # in Millions Work-eligible population Labor force ??? 181 Not in labor force 95 Employed Unemployed ??? 22 According to the table, the labor force participation rate in this economy is equal to 12.2%. 65.6%. 87.8%. 90.1%. 36.9%. O OOO
1. To be considered unemployed, a person needs to meet 2 qualifications: a. b. 2. Historically, what are the highest and lowest unemployment rates in our history? 3. There are 5000 people of working age. 2500 people are working full time. 900 are working part time. 350 people are without jobs and looking for work. a. Calculate the unemployment rate. b. Calculate the labor force participation rate. #3 % & 3 4. 8 6. e y W f k a C V m alt alt
Any help would be apreciated
4. In our country the participation rate is 60% and the unemployment rate is 10%. If the number of peopl able to work is 20 million then the number of unemployed will be: A. 12 million. C. 10.8 million E. 1.2 million B. 8 million D. 2 million
6. "You mi ght as well say that the unemployment rate would be zero if everyone just quit looking for work." Explain what the author means by this.
3 If in an economy there are 2.3 million unemployed and the labour force is 8 million Calculate the Unemployment rate (U-rate) Select one: a. 28.75 b. -797.70 c. NONE d. 802.30 e. 10.30
In an expansionary phase (prosperity cycle) of the business cycle we would expect to see unemployment O fall, rise O rise, rise O fall, fall O rise, fall and output 34
Which statement correct describes the U.S. unemployment rate? The U.S. unemployment rate A. is calculated as the percentage of the working-age population who are unemployed or discouraged B. shows a downward trend O C. was lower during World War II than during the Vietnam War O D. is calculated as the percentage of the labor force who are unemployed or discouraged