ssume the following for the town of Boone: The town has a total population of 60,000 people, of which 2,000 are under 16 years of ge or are institutionalized; 4,000 are full-time students who are not employed and are not seeking work; and 50,000 are employed. he rest of the people are out of work but have been actively seeking work within the past four weeks. hat is the unemployment rate in Boone? structions: Round your answer to 1 decimal place. percent

ssume the following for the town of Boone: The town has a total population of 60,000 people, of which 2,000 are under 16 years of ge or are institutionalized; 4,000 are full-time students who are not employed and are not seeking work; and 50,000 are employed. he rest of the people are out of work but have been actively seeking work within the past four weeks. hat is the unemployment rate in Boone? structions: Round your answer to 1 decimal place. percent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below represents the monthly unemployment rates in the US from January of 2005 through May of 2016. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 5.3% 5.4% 5.2% 5.2% 5.1% 5.0% 5.0% 4.9% 5.0% 5.0% 5.0% 4.9% 2006 4.7% 4.8% 4.7% 4.7% 4.6% 4.6% 4.7% 4.7% 4.5% 4.4% 4.5% 4.4% 2007 4.6% 4.5% 4.4% 4.5% 4.4% 4.6% 4.7% 4.6% 4.7% 4.7% 4.7% 5.0% 2008 5.0% 4.9% 5.1% 5.0% 5.4% 5.6% 5.8% 6.1% 6.1% 6.5% 6.8% 7.3% 2009 7.8% 8.3% 8.7% 9.0% 9.4% 9.5% 9.5% 9.6% 9.8% 10.0% 9.9% 9.9% 2010 9.7% 9.8% 9.9% 9.9% 9.6% 9.4% 9.5% 9.5% 9.5% 9.5% 9.8% 9.4% 2011 9.1% 9.0% 9.0% 9.1% 9.0% 9.1% 9.0% 9.0% 9.0% 8.8% 8.6% 8.5% 2012 8.2% 8.3% 8.2% 8.2% 8.2% 8.2% 8.2% 8.1% 7.8% 7.8% 7.8% 7.9% 2013 7.9% 7.7% 7.5% 7.5% 7.5% 7.5% 7.3% 7.2%…
List and explain the various unemployment rates used by the BLS, and indicate which one of the 6 is the official unemployment rate.
7. What kind of indicator is the rate of unemployment? Explain your answer.
Complete the following table: Column1 Column2 Employment 160,528,000.00 Unemployment Unemployment Rate U3 4.1% Labor Force Labor Force participation rate 64.1% Civilian Population Employment/Population ratio
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Problem 10-07 According to the following data, between 2000 and 2021, by what percentage did Average hourly wage CPI Instructions: Round your responses to the nearest whole number. a. nominal wages increase? % b. consumer prices increase? >>> % c. Did real wages increase? 2000 $ 14 170 Yes No O They remained constant. 2021 $ 30 262
Columns 1 and3 in the table below show employment and the price level in the economy. Aasume that the labour foroe in the economy is 11.0 milion. Compute and enter in column 2 the unemployment rate at each level of employment. For nach row (xcopt the first), compute and enter in column 4 the annual rate of intation. (Round your answers to hwo decmal places) Employment (milions of workers) Price Rate of Infation Lhemployment Rate (%) Level () 9.5 1.2 9.6 1.28 9.7 1.37 9.8 1.48 1.62 10 1.79 10.1 201 10.2 23
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
16. Assess whether the following would be counted as "unemployed" in the Current Employment Statistics survey. A. A husband willingly stays home with children while his wife works. B. A manufacturing worker whose factory just closed down. C. A college student doing an unpaid summer internship. D. A retiree. E. Someone who has been out of work for two years but keeps looking for a job. F. Someone who has been out of work for two months but isn't looking for a job. G. Someone who hates her present job and is actively looking for another one. H. Someone who decides to take a part time job because she could not find a full time position.
If these construction workers are laid off during the winter what kind of unemployment are they experiencing?what other kinds of unemployment are there?
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If the nubmer of unemployed workers doubled to 11.6 million and the labor forcoe didn't change. what would the unemployment rate be? ____ percent? Screenshot attached thanks