Suppose you are given the following information: Total Population Working-Age Population Unemployed a. If the labour force participation rate is 70.0%, what is the size of the labour force: million. (Enter your response rounded to one decimal place) b. How many workers are employed? million. (Enter your response rounded to one decimal place.) c. What is the unemployment rate? %. (Enter your response as a percentage rounded to two decimal places.) 35 million 32 million 4 million

Suppose you are given the following information: Total Population Working-Age Population Unemployed a. If the labour force participation rate is 70.0%, what is the size of the labour force: million. (Enter your response rounded to one decimal place) b. How many workers are employed? million. (Enter your response rounded to one decimal place.) c. What is the unemployment rate? %. (Enter your response as a percentage rounded to two decimal places.) 35 million 32 million 4 million

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...

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S W Suppose the following data describe a nation's population: Population Labor force Year 1 330 million 160 million Year 2 340 million 164 million Unemployed 6.5 million 6.9 million Instructions: Round your responses to two decimal places. a. What is the unemployment rate in each year? Year 1: Year 2: % % b. Between Year 1 and Year 2, i. the number of unemployed persons increased ii. the unemployment rate increased < Prev 2 of 11
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