Test: ECON 102 / Test 1 Time Remaining: 01:55:07 Submit Te This Question: 3 pts 9 of 41 (8 complete) v This Test: 60 pts possi The table shows the data reported by the Bureau of Labor Statistics in 2009. Labor Market Data Calculate the labor force, employment, and the unemployment rate. Labor force participation rate 65.4 percent The labor force is 15434.4 million. >>> Answer with a whole number. Working-age population 236 million Employment-to-population ratio 59.3 percent Employment is 13994.8 million. >>> Answer with a whole number. The unemployment rate is 9.32 percent. >> Answer to 1 decimal place.
Test: ECON 102 / Test 1 Time Remaining: 01:55:07 Submit Te This Question: 3 pts 9 of 41 (8 complete) v This Test: 60 pts possi The table shows the data reported by the Bureau of Labor Statistics in 2009. Labor Market Data Calculate the labor force, employment, and the unemployment rate. Labor force participation rate 65.4 percent The labor force is 15434.4 million. >>> Answer with a whole number. Working-age population 236 million Employment-to-population ratio 59.3 percent Employment is 13994.8 million. >>> Answer with a whole number. The unemployment rate is 9.32 percent. >> Answer to 1 decimal place.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![Test: ECON 102 / Test 1
Time Remaining: 02:22:23
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This Question: 3 pts
3 of 41 (2 complete)
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How do we calculate the inflation rate and what is its relationship with the CPI?
The inflation rate is calculated as
O A. [(CPI this year - CPI in the base year) = CPI in the base year] x 100
O B. [(CPI this year - CPI last year) - CPI last year]x 100
OC. [(CPI this year - CPI last year) - CPI this year]×100
O D. [(CPI in the base year - CPI last year) - CPI this year] x 100
When the CPI
O A. rises slowly, the inflation rate is negative
O B. rises slowly, the inflation rate is low
O C. is constant, the inflation rate is negative
O D. falls, the inflation rate is positive and low
The CPI in 2008 was 210.2. The CPI in 2009 was 215.9.
The inflation rate in 2009 was 2.96|| percent.
>>> Answer to 1 decimal place.
>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Click to select your answer(s).
(?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74cf2dd0-9d35-4848-bd1c-bd7f594b2855%2Fa7081777-c690-483d-adc2-f46a3532499d%2Fb3ju2md_processed.png&w=3840&q=75)
Transcribed Image Text:Test: ECON 102 / Test 1
Time Remaining: 02:22:23
Submit Test
This Question: 3 pts
3 of 41 (2 complete)
This Test: 60 pts possible
How do we calculate the inflation rate and what is its relationship with the CPI?
The inflation rate is calculated as
O A. [(CPI this year - CPI in the base year) = CPI in the base year] x 100
O B. [(CPI this year - CPI last year) - CPI last year]x 100
OC. [(CPI this year - CPI last year) - CPI this year]×100
O D. [(CPI in the base year - CPI last year) - CPI this year] x 100
When the CPI
O A. rises slowly, the inflation rate is negative
O B. rises slowly, the inflation rate is low
O C. is constant, the inflation rate is negative
O D. falls, the inflation rate is positive and low
The CPI in 2008 was 210.2. The CPI in 2009 was 215.9.
The inflation rate in 2009 was 2.96|| percent.
>>> Answer to 1 decimal place.
>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Click to select your answer(s).
(?
![Test: ECON 102 / Test 1
Time Remaining: 01:55:07
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This Question: 3 pts
9 of 41 (8 complete)
This Test: 60 pts possible
The table shows the data reported by the Bureau of Labor Statistics in 2009.
Labor Market Data
Calculate the labor force, employment, and the unemployment rate.
Labor force participation rate
65.4 percent
The labor force is 15434.4 million.
Working-age population
236 million
>>> Answer with a whole number.
Employment-to-population ratio
59.3 percent
Employment is 13994.8 million.
>>> Answer with a whole number.
The unemployment rate is 9.32 percent.
>>> Answer to 1 decimal place.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74cf2dd0-9d35-4848-bd1c-bd7f594b2855%2Fa7081777-c690-483d-adc2-f46a3532499d%2Fj0y533v_processed.png&w=3840&q=75)
Transcribed Image Text:Test: ECON 102 / Test 1
Time Remaining: 01:55:07
Submit Test
This Question: 3 pts
9 of 41 (8 complete)
This Test: 60 pts possible
The table shows the data reported by the Bureau of Labor Statistics in 2009.
Labor Market Data
Calculate the labor force, employment, and the unemployment rate.
Labor force participation rate
65.4 percent
The labor force is 15434.4 million.
Working-age population
236 million
>>> Answer with a whole number.
Employment-to-population ratio
59.3 percent
Employment is 13994.8 million.
>>> Answer with a whole number.
The unemployment rate is 9.32 percent.
>>> Answer to 1 decimal place.
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