Suppose there are two major groups in the labor force, adults and teenagers, with adults divided into men and women. Teenagers account for 10% of the labor force, while adults account for 90%. Women make up 40% of the adult labor force. Suppose also that the unemployment rates for these groups are as follows: teenagers at 19%. men at 7%, and women at 6%. Calculate the overall unemployment rate in percent.

Suppose there are two major groups in the labor force, adults and teenagers, with adults divided into men and women. Teenagers account for 10% of the labor force, while adults account for 90%. Women make up 40% of the adult labor force. Suppose also that the unemployment rates for these groups are as follows: teenagers at 19%. men at 7%, and women at 6%. Calculate the overall unemployment rate in 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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