Unemployment Question The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this information, answer the following questions. Show your work. These are numbers for the month of January. a. What is the labor force of Macroland for people between the ages of 18 and 65 in January? b. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? What is the labor force participation rate of Macroland for people between the ages of 18 and 65 Tin January? C.

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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20(1).pdt
它 ☆
5/6
001
Math It Graph It Write It
Business Cycle Question
Using the actual data from the table please construct a business cycle model. Remember to include the actual
adjusted GDP (2005 Dollars) as well as the GDP trend line. Number your horizontal axis, time, with 2000 as
the origin at one year increments. Label your vertical in 1000s of billions, just like the table. Use a number
line break on the vertical and number from $10,000 billion to $14,000 billion in 250 billion increments.
GDP in Billions,
Current Dollars
Year
GDP In Billions,
2005 Dollars
2000
9,951.5
11,216.4
2001
10,286.2
11,337.5
2002
10,642.3
11,543.1
2003
11,142.2
11,836.4
2004
11,533.3
12,246.9
2005
12,623.0
12,623.0
2006
13,377.2
12,958.5
2007
14,028.7
13,206.4
2008
14,291.5
13,161.9
2009
13,939.0
12,703.1
2010
14,526.5
13,088.0
http://www.bea.gov/national/
Transcribed Image Text:20(1).pdt 它 ☆ 5/6 001 Math It Graph It Write It Business Cycle Question Using the actual data from the table please construct a business cycle model. Remember to include the actual adjusted GDP (2005 Dollars) as well as the GDP trend line. Number your horizontal axis, time, with 2000 as the origin at one year increments. Label your vertical in 1000s of billions, just like the table. Use a number line break on the vertical and number from $10,000 billion to $14,000 billion in 250 billion increments. GDP in Billions, Current Dollars Year GDP In Billions, 2005 Dollars 2000 9,951.5 11,216.4 2001 10,286.2 11,337.5 2002 10,642.3 11,543.1 2003 11,142.2 11,836.4 2004 11,533.3 12,246.9 2005 12,623.0 12,623.0 2006 13,377.2 12,958.5 2007 14,028.7 13,206.4 2008 14,291.5 13,161.9 2009 13,939.0 12,703.1 2010 14,526.5 13,088.0 http://www.bea.gov/national/
5 / 6
100%
Unemployment Question
The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There
are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between
ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this
information, answer the following questions. Show your work. These are numbers for the month of January.
a,
What is the labor force of Macroland for people between the ages of 18 and 65 in January?
b.
What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January?
What is the labor force participation rate of Macroland for people between the ages of 18 and 65
jin January?
Now assume there were some changes in February. Of the people between the ages of 18 and 65 in
Macroland, about 2000 who were looking for work now dropped out of the labor market, and stop looking
for work. In addition, 8000 people who were previously unemployed in January gót jobs in February.
However, 3000 who had jobs in January lost their jobs, and all of them qualify for unemployment
insurance and are looking for work. Using this information, answer the following questions. Show
с.
your work.
Macro EASEonomics
O BVT Publishing
Name:
d.
What is the labor force of Macroland for people between the ages of 18 and 65 in February?
What is the unemployment rate of Macroiand for people between the ages of 18 and 65 in February?
e.
How many discouraged workers are there in February?
Inflation Question
Transcribed Image Text:5 / 6 100% Unemployment Question The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this information, answer the following questions. Show your work. These are numbers for the month of January. a, What is the labor force of Macroland for people between the ages of 18 and 65 in January? b. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? What is the labor force participation rate of Macroland for people between the ages of 18 and 65 jin January? Now assume there were some changes in February. Of the people between the ages of 18 and 65 in Macroland, about 2000 who were looking for work now dropped out of the labor market, and stop looking for work. In addition, 8000 people who were previously unemployed in January gót jobs in February. However, 3000 who had jobs in January lost their jobs, and all of them qualify for unemployment insurance and are looking for work. Using this information, answer the following questions. Show с. your work. Macro EASEonomics O BVT Publishing Name: d. What is the labor force of Macroland for people between the ages of 18 and 65 in February? What is the unemployment rate of Macroiand for people between the ages of 18 and 65 in February? e. How many discouraged workers are there in February? Inflation Question
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