Which of the following statements correctly describe discouraged workers? Check all that apply. They are counted as partially employed by the Bureau of Labor Statistics They have given up on looking for a job but are still willing to work. They are the people who did 15 hours of unpaid work in a family-operated enterprise. They are employed workers who are looking for better positions elsewhere.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Note:-

  • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
  • Answer completely.
  • You will get up vote for sure.
Which of the following statements correctly describe discouraged workers? Check all that apply.
They are counted as partially employed by the Bureau of Labor Statistics
They have given up on looking for a job but are still willing to work.
They are the people who did 15 hours of unpaid work in a family-operated enterprise.
They are employed workers who are looking for better positions elsewhere,
The following table contains employment information for the United States from March 2009.
Civilian Noninstitutional Population
(Number of people)
235,086,000
Employed
Unemployed
(Number of people) (Number of people)
140,887,000
13,161,000
Discouraged
(Number of people)
685,000
Transcribed Image Text:Which of the following statements correctly describe discouraged workers? Check all that apply. They are counted as partially employed by the Bureau of Labor Statistics They have given up on looking for a job but are still willing to work. They are the people who did 15 hours of unpaid work in a family-operated enterprise. They are employed workers who are looking for better positions elsewhere, The following table contains employment information for the United States from March 2009. Civilian Noninstitutional Population (Number of people) 235,086,000 Employed Unemployed (Number of people) (Number of people) 140,887,000 13,161,000 Discouraged (Number of people) 685,000
Homework: Macroeconomic Measurements, Part I: Prices and Unemployment (Ch 06)
The following table contains employment information for the United States from March 2009.
Civilian Noninstitutional Population Employed
(Number of people)
235,086,000
(Number of people)
140,887,000
Unemployment Rate =
Unemployed
(Number of people)
13,161,000
The Bureau of Labor Statistics (BLS) calculates the official unemployment rate using the following formula:
Number of persons unemployed
Chnan Labor Force
Discouraged
(Number of people)
685,000
Note that the official unemployment rate does not account for discouraged workers. Under the BLS definition, the total number of unemployed workers
and the civilian labor force is
is
If discouraged workers were to be included, the total number of unemployed workers would be
be
Fill in the following table by calculating the official unemployment rate using these two different methods.
Official Unemployment Rate
Unemployment Rate with Discouraged Workers
and the civilian labor force would
Based on your calculations, excluding discouraged workers from the official unemployment rate may cause the official rate to
the
Transcribed Image Text:Homework: Macroeconomic Measurements, Part I: Prices and Unemployment (Ch 06) The following table contains employment information for the United States from March 2009. Civilian Noninstitutional Population Employed (Number of people) 235,086,000 (Number of people) 140,887,000 Unemployment Rate = Unemployed (Number of people) 13,161,000 The Bureau of Labor Statistics (BLS) calculates the official unemployment rate using the following formula: Number of persons unemployed Chnan Labor Force Discouraged (Number of people) 685,000 Note that the official unemployment rate does not account for discouraged workers. Under the BLS definition, the total number of unemployed workers and the civilian labor force is is If discouraged workers were to be included, the total number of unemployed workers would be be Fill in the following table by calculating the official unemployment rate using these two different methods. Official Unemployment Rate Unemployment Rate with Discouraged Workers and the civilian labor force would Based on your calculations, excluding discouraged workers from the official unemployment rate may cause the official rate to the
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Unemployment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education