Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Also, assume that nobody in Nellyville is institutionalized. Table 2-1 Population (of which 1/2 are 16 and older) Full-time Students Retired Currently Working Called in Sick Full-time homemakers (stay at home moms and dads) Currently on Vacation Others Not Working (70 are too disabled to work and 30 quit looking for work months ago. The other 100 are actively seeking employment.) Calculate the Unemployment Rate in Nellyville O 5% OO O 10% O 25% O 33% 2,000 100 300 250 30 100 20 200

Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Also, assume that nobody in Nellyville is institutionalized. Table 2-1 Population (of which 1/2 are 16 and older) Full-time Students Retired Currently Working Called in Sick Full-time homemakers (stay at home moms and dads) Currently on Vacation Others Not Working (70 are too disabled to work and 30 quit looking for work months ago. The other 100 are actively seeking employment.) Calculate the Unemployment Rate in Nellyville O 5% OO O 10% O 25% O 33% 2,000 100 300 250 30 100 20 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students,
homemakers, retirees, and those who are too disabled to work are not looking for a job. Also, assume that nobody in Nellyville is institutionalized.
Table 2-1
Population (of which 1/2 are 16 and older)
Full-time Students
Retired
Currently Working
Called in Sick
Full-time homemakers (stay at home moms and dads)
Currently on Vacation
Others Not Working (70 are too disabled to work and 30 quit looking for work months ago. The other 100 are actively seeking
employment.)
Calculate the Unemployment Rate in Nellyville
O 5%
O 10%
25%
O 33%
2,000
100
300
250
30
100
20
200

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