Question 2: The below data are for a hypothetical economy: (show your calculations) • Number of employed - 480 million persons • Not in labour force 125 million persons • Number of Labour force = 625 million persons Using the above data, compute the following a. Number of unemployed, b. Unemployment-rate, c. Population
Q: Question 20 The table below shows the hypothetical values of the adult population, number of…
A: Unemployed : A person is unemployed only if he is willing to work but not getting work . Employed:…
Q: please answer part a-d using the data given below following data for Bacon County, Georgia, an area…
A: GDP(gross domestic product) is the total value(monetary value) of final goods/services produced in…
Q: Here is a graph (this pertains to just the first 2 questions) for several economic series: the…
A: The AD-AS model studies the relationship between the price level and the real output of the economy.…
Q: Which of the following represents the actual number of unemployed people in Oman? a. The people…
A: Labor force includes all the workers in the economy which are either employed or in the search of…
Q: Assume you have the following information about an economy: Labor Force of an Economy Number of…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Year 2010 2011 2012 2013 2014 2015 Economic growth (%) 2.7 1.7 1.3 2.7 2.5 1.9…
A: GDP is the value of all final goods and services produced in an economy over a given period of time.…
Q: Question 3 The table below gives some data on the population of Crescent Highland. Use the provided…
A: Labor force: The labor force consists of the number of people who are employed plus unemployed…
Q: i. Calculate the construction location quotient for Town Anywhere in 2015 ii. Calculate the…
A: The Location Quotient (LQ) is a statistical measure used to assess the relative concentration of a…
Q: Consider a small economy composed of six people: Yakov, Ana, Charles, Dina, Juanita, and Gilberto.…
A: Labour force is the sum of unemployed unemployed workers. People who are willing and able to do work…
Q: Question 2. The value of economic activity: GDP An economy has produced 50 cars and 10 planes in…
A: Gross domestic product measures the market value of final goods and services produced by an economy…
Q: The table below contains data for the country of Candyland. The base year is 2011. Year GDP Nominal…
A: Nominal GDP (Gross Domestic Product):Nominal GDP is the total value of all goods and services…
Q: Between 2001 and 2014, by how much did (A) the labor force change? (B) unemployment change? (C)…
A: Given:- Data for 2001 and 2014 To determine:- Labor force change, unemployment change and employment…
Q: a. Using 2000 as the base year, what is the growth rate of real GDP from 2000 to 2010? b. Based on…
A: Inflation refers to the increment in the general prices of commodities in the country.
Q: Complete the right half of the following equation to reflect the labor force participation rate…
A: Unemployment rate refers to the percentage of labor force that are unemployed. Labor force is the…
Q: 9) Use the following data for Simcity to find the employed, the unemployed, the labor force and…
A: Total population eligible to work = Total Population(1) - Under 16(2)…
Q: 1. (a) Interpreting the data given above, compare the economic indicators in Norway from 2007 to…
A: Economic growth Economic growth refers to the increase in the level of production of goods and…
Q: Silesia – Continued You are provided with the following information about an imaginary economy…
A: Gross Domestic Product (GDP) is the sum total of good and services produced and sold domestically in…
Q: The following plot show the monthly unemployment rate and vacancy rate in the US from January 2020…
A: The Diamond-Mortensen-Pissarides (DMP) framework is an economic structure used for investigating…
Q: 1. Measuring employment, unemployment, and labor force participation Consider a small economy…
A: Labor force is a part of adult population which is either employed or unemployed.
Q: The information in the table below is for the economy of Mensk. Round your responses below to one…
A: Given information: Working-age population = 25 Number of people in full-time employment = 12 Number…
Q: You are given the following information about an economy, use the information to calculate exercises…
A: Answer: $270 Million
Q: Question 1 – Below are some hypothetical statistics for a country in September 2020. Compute the…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: A country has a population of 160 million. Out of this population, the number of retired people is…
A: Note: Since you have posted a question with multiple subparts, we will solve the first three…
Q: 2. Assume that the employment data (in millions) are Population (16 and over) = 243.190 Labor force…
A: Unemployment means a population want to do work and have skills as well , but dont have work so ,…
Q: Refer to the table below for the following question. Suppose this economy has an unemployment rate…
A: Unemployment rate os defined as unemployed people divided by total labour force which includes both…
Q: Assume the total population is 3500. Of the total population, 1800 are working full-time. Of the…
A: Given information: Total population = 3500 Full time workers = 1800 Under 16 not working population…
Q: Unemployment and the Labor Force The table shows employment statistics for a fictional country. Use…
A: Employment is when people are employed in full-time or part-time roles, and are able to earn income…
Q: 2. The following is also known for Ekonland: 2019 2020 Q P Q Pen 180 3 220 Раper 1100 1 1500 Eraser…
A: Answer: (a). The formula to calculate nominal GDP is given below: Nominal GDP=Price in current…
Q: 1. What would the unemployment rate be if, in an economy, there were 10 million unemployed…
A: The per centum is that the percent of the proletariat that's jobless. it's a lagging indicator,…
Q: Complete the right half of the following equation to reflect the labor force participation rate…
A: The criteria for identifying who is employed and who is jobless are established by the Bureau of…
Q: Aggregate hours a. are the total number of hours worked by people holding full time jobs. b. are…
A: Aggregate hours is a statistic which represents the sum of hours worked by all employed people…
Q: Use the below data to calculate: a. the labor force, b. the number of people not in the labor force,…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: · Measuring employment, unemployment, and labor force participation oneider a tiny hypothetical…
A: An employed person is a person who is 16+ years old and currently engaged in some formal employment…
Q: Consider the following data for a country in a particular year: Part time jobs 40 Full time…
A: Employment refers to the state of being employed or having a job, where individuals engage in…
Q: 1. Measuring employment, unemployment, and labor force participation Consider a small economy…
A: The labor force participation rate, in short, is the percentage of the working-age population that…
Q: Question 1 Incomplete answer Points out of #1) Suppose the following data describe a nation's…
A: The objective of the question is to calculate the unemployment rate for two different years,…
Q: Please answer parts (i), (ii), (iii) Using the following data calculate: (i) The number of persons…
A: The subject of economics became more difficult as economies and civilizations grew. As a result, it…
Q: Which of the following people would be unemployed (or belonging to any labor market group) according…
A:
Q: Unemployment rate 5.0% Participation rate 62.5% Not in the labor force 60 million Find…
A: We can calculate the unemployment rate by dividing the number of unemployed people by the total…
Q: in January 2021, the working-age population of the United States was 260.9 million. The working-age…
A: 1. Unemployment Rate: • Unemployed=10.1million • LaborForce=160.2million •…
Q: Problem 05-11 (algo) Skyler is downloading labor market data for the most recent month, but her…
A: The labor force is the total population that is actively working or is looking for a new job. It…
Q: Use the data below that describes a nation’s population to answer the following questions: a) How…
A: Labour force includes unemployed and employed people . Unemployment means people are actively…
Q: referto the information for the U.S. economy provided below Year Nominal GDP Real GDP Labor Force…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 1. The table below reports the unemployment rate, labor force participation rate, and (working-age)…
A: The labor force participation rate is an estimate of an economy's active workforce. The formula is…
Q: Calculate the following, referring to the employment data for the hypothetical economy of Kipper in…
A: The active participants of the labor force not being associated with any jobs or works at present…
Q: Use the following to answer questions 1-6: Working Age Population Labor Force # of Employed 1. What…
A: Size of Unemployment = Size of Labor Force - Size of Employed people Unemployment rate = (Size of…
Q: 1. Measuring employment, unemployment, and labor force participation Consider a small economy…
A: Raphael’s status is employed.Susan’s status is unemployed. This is because she has completed her…
Step by step
Solved in 2 steps
- Question 2. In a given year, Ottawa has a total population of around 1 million. Suppose that 70 percent of the total population are adults. Assume that 20 percent of the adult population is not looking for a job and 70 percent of the adult population is employed. Compute the following: a. The size of Labour force b. Labour-force participation rate c. Unemployment rateQuestion 1 If the unemployment rate is 10%, while the number of employed individuals is 900, what is the labor force? A. 810. B. 900 C. 990 D. 1000 Question 2 When an economy experiences INFLATION, which of the following measures of the GDP grows at a faster rate? A. Nominal GDP B. Real GDP C. None of the above, as both, Nominal and Real GDP measures expand at the same rate. Question 3 Consider the following ecnomy: Total Population = 1000 Total Adult Civilian (non-institutionalized) Population = 700 Number of people employed = 200 Number of people without jobs but looking for work = 80 What is the labor force participation rate in this economy? A. 28% B. 40% C. 70% D. None of the above Question 4 A Japanese firm manufactures cars in the US. Assume that each car sells for $20,000 to a consumer in the US. Also assume that from the sale of each car the Japanese manufacturer earns $2000 in profits and remits those to the holding company in Japan. Assume that the car is manufactured with…Use the table data below about this economy to answer the questions that follow regarding employment/unemployment. Show all calculations. Group Relevant population ?? Not in labor force 85 Labor Number in Millions Employed Unemployed 245 ?? 25 1. What is the relevant population in this economy? 1. How many people are employed in this economy? 1. Calculate the unemployment rate.
- use the table Assume that the reference base year is 2002 (CPI = 100) a) What is the CPI (consumer price index) in 2012? b) What is the nominal GDP and real GDP in 2012? c) By what percentage did the economy grow between 2002 and 2012?Suppose the following data describe a nation's population: Year 1 Year 2 Population 320 million 330 million Labor force 150 million 160 million Unemployment rate 6 percent 6 percent Instructions: Round your responses to one decimal place. a. How many people are unemployed in each year? Year 1: million Year 2: million b. How many people are employed in each year? Year 1: million Year 2: millionWhich of the following statements are correct? Select one or more: a. To find GDP at constant prices we can use the CPI to deflate GDP at current prices b. Inflation is measured by calculating the cost of a given bundle of goods. c. The basket of goods used to calculate CPI inflation is fixed for long periods d. Some price indices adjust for the change in the quality of goods over time, as well as the change in prices.
- Problem #1: Suppose the following data describe a nation's population: Year 1 Year 2 Population 320 million | 230 million Labor Force 150 million 160 million Unemployed | 6.5 million 6.9 million a. What is the unemployment rate each year? b. Has the economy experienced an increase or decrease in The number of unemployed persons? i. ii. The unemployment rate?The table below presents a brief summary of City Y’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 Interpret what the two spending-to-GDP ratios tell us about City Y’s spending trend. Assuming City Y’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City Y’s population in 2030.refer to the information for the U.S. economy provided below Labor Force (in Employed (in 1000s) Year Nominal GDP Real GDP Population (in billions of $) 9,784 (2009 base 1000s) year) 12,565 2017 211,410 142,267 136,559 2018 17,376 15,584 244,663 155,511 143,196 2019 17,923 15,903 246,915 155,460 145,224 Find 1- The labor force participation rate in 2018 2- Unemployment rate in 2019 3- Calculate the Employment Population Ratio for this economy 4- GDP deflator in 2019 5- Inflation
- The following table contains unemployment statistics from 2013 for three different countries: Australia, the Netherlands, and France. (Source: “International Labor Comparisons.”Bureau of Labor Statistics) Fill in the table using the given data. Country Working-Age (Civilian Not in Civilian Employed Unemployed Unemployment Non-institutionalized) the Labor Force Labor Force (Thousands) (Thousands) Rate Population (Thousands) (Thousands) (Percent) (Thousands) Australia 18,332 6,196 12,136 11,501 635 Netherlands 13,629 4,796 8,364 469 France 22,411 25,547 2,8241. Measuring employment, unemployment, and labor force participation Consider a tiny hypothetical economy composed entirely of the following people: Antonio, Caroline, Dmitri, Frances, Latasha, and Jake. Each person's employment status is given in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Antonio is a 46-year-old steelworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Caroline is a 29-year-old professional hockey player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Dmitri is a 78-year-old retired…The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend. 4. Assuming City A’s population grows at a constant rate in the next decade.…