Suppose the following data describe a nation's population: Year 1 330 million Year 2 340 million 160 million 6.5 million Population Labor force Unemployed Instructions: Round your responses to two decimal places. a. What is the unemployment rate in each year? Year 1: Year 2: 164 million 6.9 million % b. Between Year 1 and Year 2, i. the number of unemployed persons increased ii. the unemployment rate increased

Suppose the following data describe a nation's population: Year 1 330 million Year 2 340 million 160 million 6.5 million Population Labor force Unemployed Instructions: Round your responses to two decimal places. a. What is the unemployment rate in each year? Year 1: Year 2: 164 million 6.9 million % b. Between Year 1 and Year 2, i. the number of unemployed persons increased ii. the unemployment rate increased

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In 2019 in the United Kingdom, the adult population was about 65 million, the labour force participation rate was 60 percent, and the unemployment rate was 6 percent. What was the approximate number of people unemployed? a. 2.3 million b. 0.7 million c. 1.7 million d. 6.5 million
Suppose employment is 45 million and unemployment is 2 million. Also, each month an average of 0.6 million unemployed find jobs, 0.5 million employed become unemployed, 0.2 million unemployed quit looking for jobs, and 0.3 million new graduates start looking for jobs. What is the average duration of unemployment each month? (round to the nearest decimal) a. All of the answers here are incorrect b. 2.5 c. 2.3 d. 1.3 e. 2.6
1. a. Suppose the adult population over the age of 16 is 138 million and the labor force is 103 million (of whom 95 million are employed). How many people are "not in the labor force?" What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages. b. Using the above data, what is the unemployment rate?
Suppose you are given the following information: Labor force Adults in the military Nonadult population Employed adults Institutionalized adults Nonmilitary, noninstitutionalized adults not in labor force a. What is the total population? 298.8 million. (Enter your response rounded to one decimal place.) b. Calculate the total number of unemployed people. million. (Enter your response rounded to one decimal place.) Calculate the unemployment rate. % (Enter your response as a percentage rounded to two decimal places.) 206.29 2.67 46.22 194.46 2.82 40.78
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: million
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Q6. Suppose the number of employed people in an economy is 312,545,372. The unemployment rate in this economy is 7.4 percent, or .074, and the labor force participation rate is 80 percent, or .80. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?
Assume the following data for a country: Number of People, Millions Category Total population Population under 16 years of age or institutionalized 500 120 Not in the labor force 140 Unemployed Part-time workers looking for full-time jobs 12 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent
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