The unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. What can we say about the labor force participation rate? It may be smaller, equal to, or greater than 94 percent if 80 percent of the 400 people in Country Y are considered potential workers. b. It is equal to 94 percent. C. It is greater than 94 percent if there are no discouraged workers. d. It is smaller than 94 percent if 80 percent of the 400 people in County Y are considered potential workers. ×

The unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. What can we say about the labor force participation rate? It may be smaller, equal to, or greater than 94 percent if 80 percent of the 400 people in Country Y are considered potential workers. b. It is equal to 94 percent. C. It is greater than 94 percent if there are no discouraged workers. d. It is smaller than 94 percent if 80 percent of the 400 people in County Y are considered potential workers. ×

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Fill in the blanks using the number that corresponds to the correct word or phrase below Labor statistics Labor force participation rate underemployed Percentage or rate census Not in the Labor force Discouraged workers An individual with a college degree in finance who is working as a sales clerk would be considered . Those who have stopped looking for employment and, hence, are no longer counted in the unemployed are classified as . The percentage of adults in an economy who are either employed or who are unemployed and looking for a job is called Unemployment is calculated as a The Bureau of tracks and reports all data related to unemployment. Children should be counted as Those who have quit looking fo a job, often due to being discouraged by their inability to find suitable employment are counted as The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau.
Let's assume that the working-age population of a country B is 125 million and 60 million people are in the labor force. If 55.8 million people are considered employed, and 4.2 million are considered unemployed, what is the rate of unemployment in percentage?
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Economics
Let's assume that the working-age population of a specific country D is 210 million and 120 million people are in the labor force. If 114 million people are considered employed, and 6 million are considered unemployed, what is the rate of unemployment in percentage?
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