Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check allthat apply.They are full-time workers who would like to work only part-time.O They are counted as part of the labor force by the Bureau of Labor Statistics.They have given up on looking for a job.They are employed workers who want to earn higher wages.The following table contains U.S. employment information from August 2019.Civilian PopulationEmployedUnemployedDiscouraged(Persons 16 years old and over)(Persons)(Persons)(Persons)259,432,000157,878,0006,044,000467,000The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measureof labor underutilization, which is calculated as follows:Unemployed+DiscouragedLabor Force + DiscouragedU-4 = 100 × Civilian PopulationEmployedUnemployedDiscouraged(Persons 16 years old and over)(Persons)(Persons)(Persons)259,432,000157,878,0006,044,000467,000The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measureof labor underutilization, which is calculated as follows:Unemployed+DiscouragedLabor Force + DiscouragedU-4 = 100 XFill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.Official Unemployment RateU-4 Measure of Labor Underutilization(Percent)(Percent)The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.Excluding discouraged workers from the official unemployment rate may cause the official rate tothe true extent ofunderemployment.

Answer- They have given up on looking for a job. Because discouraged workers choose voluntarily to be unemployed. They are no longer a participant in the labor market and data does not count discouraged workers part of the labor force.Official Unemployment rate =Number of unemployedLabor force×100 =6,044,000employed + unemployed×100 =6,044,000157,878,000+6,044,000×100 =3.69% U-4 =100×Unemployed + DiscouragedLabor force + Discouraged=100×6,044,000+467,000163,922,000+467,000=3.96%

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Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. O They are full-time workers who would like to work only part-time. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They have given up on looking for a job. O They are employed workers who want to earn higher wages. The following table contains U.S. employment information from August 2019. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 259,432,000 157,878,000 6,044,000 467,000

Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. O They are full-time workers who would like to work only part-time. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They have given up on looking for a job. O They are employed workers who want to earn higher wages. The following table contains U.S. employment information from August 2019. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 259,432,000 157,878,000 6,044,000 467,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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