The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. If 3.0 million workers change jobs every month, total monthly separations in this economy are million. (Round your response to one decimal place.) According to the figure, the average monthly flow out of unemployment each month is million. (Round your response to one decimal place.) In this economy in an average month, the proportion of unemployed leaving unemployment is%. (Round your response to one decimal place.) Enter your answer in each of the answer boxes. 3.2 Unemployment 7.0 million Employment 128.8 million 2.5 4.4 1.6 4.6 1.6 Out of the labor force 88.5 million

The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. If 3.0 million workers change jobs every month, total monthly separations in this economy are million. (Round your response to one decimal place.) According to the figure, the average monthly flow out of unemployment each month is million. (Round your response to one decimal place.) In this economy in an average month, the proportion of unemployed leaving unemployment is%. (Round your response to one decimal place.) Enter your answer in each of the answer boxes. 3.2 Unemployment 7.0 million Employment 128.8 million 2.5 4.4 1.6 4.6 1.6 Out of the labor force 88.5 million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1.Which of the two counties currently has a higher unemployment rate? How much higher is it than the other? 2.Has that county always had a higher unemployment rate (during the entire length of the FRED data)? If not, when was the last time the other county had a higher unemployment rate? 3. Is there any other takeaway or conclusion you notice by comparing the two graphs?
The below table shows the labour force data for the country of Parsha in 2019 (figures in millions): Round your answers to 2 decimal places. Population Working-age population Labour force Employed Labour force participation % 2019 48 2020 48 41 Not in working-age population 38 36.3 92.7 Not in labour force Unemployed Unemployment % 2019 2020 7 3 1.7 4.5 Suppose the only change that occurs in 2020 is that the number of retired workers increases by 1.8 (million). Complete the above table.
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M12
Economics
Suppose the economy of Questville has an adult (over age 16) population of 100 million, with a labor force participation rate of 90% and 77 million employed people. Calculate the number of unemployed:
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2.
Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.
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