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The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 1 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and canne The remaining people did not have jobs, but all said they would like one. 5 of these people not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the surv taker's report. Labor force: 48 people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: %

The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 1 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and canne The remaining people did not have jobs, but all said they would like one. 5 of these people not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the surv taker's report. Labor force: 48 people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: %

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 16, 25 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. 5 of these people had not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the survey taker's report. Labor force: 48 people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: % Participation rate: %
Transcribed Image Text:The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 16, 25 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. 5 of these people had not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the survey taker's report. Labor force: 48 people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: % Participation rate: %
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