Suppose the unemployment rate is 4.8 percent, the labour force participation rate is 62 percent, and the working age population is 108 million. How many people are employed? O a. about 52 million cross out O b. about 63.74 million cross out O C. about 67 million cross out O d. about 103 million cross out

Suppose the unemployment rate is 4.8 percent, the labour force participation rate is 62 percent, and the working age population is 108 million. How many people are employed? O a. about 52 million cross out O b. about 63.74 million cross out O C. about 67 million cross out O d. about 103 million cross out

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 the economy there has been an increase in the labor force participation rate. We can expect the equilibrium wage to number of people employed to and the O decrease : increase O decrease : decrease O increase : increase O increase: decrease
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The following table contains information for the U.S. for 1998. Thousands of U.S. Economy: 1998 Persons Civilian labor force 137,565 Civilian employment Civilian working-age population 131,293 205.015 Compute the unemployment rate and the labor force participation rate. O A. Unemployment rate = 9.54 percent; Labor force participation rate = 67.1 percent. O B. Unemployment rate = 4.56 percent; Labor force participation rate = 95.44 percent. O C. Unemployment rate = 3.06 percent; Labor force participation rate = 48.8 percent. O D. Unemployment rate = 4.56 percent; Labor force participation rate = 67.1 percent.
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50 45 Computers 30 0 0 10 Pizzas PP1 PP2 20 25 Please refer to the graph above. The society currently has production possibilities PP1. Which production combination is experiencing unemployment? O 10 pizzas and 30 computers 25 pizzas and 50 computers 20 pizzas and 45 computers O 10 pizzas and 45 computers
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Suppose that next year 150,000 existing jobs in the economy are eliminated through layoffs and plant closures, and 200,000 new jobs are created through expansions and the creation of new firms. The amount of unemployed individuals will rise over that year if O A. more than 50,000 people join the labour force. B. less than 50,000 people drop out of the labour force. OC. less than 50,000 people join the labour force. D. more than 50,000 people drop out of the labour force. O O O O
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The figure shows the cost of college for high- and low-productivity workers. Based on the college wage premium: Income 400 (thousands of dollars a year) 300- 200 100 Cost low productivity Cost high productivity College 4-year wage premium Years of college O a. neither type of worker will get a four-year degree. O b. high-productivity workers will get a four-year degree. O c. all workers will get a four-year degree. O d. high-productivity workers will choose six years of college.
Newly released data shows that the U.S. unemployment rate was 6.2 % in Feb 2021, whereas the Euro area unemployment rate was 8.3%. In fact, the U.S. has almost always (with a few exceptions) had a lower unemployment rate compared to the Euro area. Which is most likely not a reason to explain the above scenario? O The wage in Euro area is too high. Euro firms have shifted from hiring local workers to hiring in countries that have cheaper labor O Higher relative wages for skilled laborers in the US has decreased the unemployment rate Euro area has generous unemployment insurance to guarantee worker benefits, which increases the unemployment rate O U.S. has relatively stronger unions compared to the Euro area, which decreases the unemployment rate
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