Essentials of Economics (MindTap Course List)
8th Edition
ISBN: 9781337091992
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 20, Problem 1QR
To determine
Computation of labor force,
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Based on the information in the table below, calculate the labor force participation rate, and the percentage or workers out of the labor force:
Total adult population over the age of 16
83 million
Total in the labor force
63 million
Total Employed
60 million
Total Unemployed
3 million
Total out of the labor force
20 million
Group of answer choices
Participation rate: 24.1%, Out of the labor force: 92.5%
Participation rate: 75.9%; Out of the labor force: 24.1%
Participation rate: 5%,Out of the labor force: 15%
Participation rate: 24.1%, Out of the labor force:75.9%
What are the three categories into which the Bureauof Labor Statistics divides everyone? How does theBLS compute the labor force, the unemployment rate,and the labor-force participation rate?
The following scenarios have been taken from actual answers to the Current Population Survey conducted by the Bureau of Labor Statistics. In each case classify the individual as either employed, unemployed, or not in the labor force.
1. Walter White was laid off several months ago. He gave up looking for work and has not looked for two months.
Chapter 20 Solutions
Essentials of Economics (MindTap Course List)
Ch. 20.1 - Prob. 1QQCh. 20.2 - Prob. 2QQCh. 20.3 - Prob. 3QQCh. 20.4 - Prob. 4QQCh. 20.5 - Prob. 5QQCh. 20 - Prob. 1CQQCh. 20 - Prob. 2CQQCh. 20 - Prob. 3CQQCh. 20 - Prob. 4CQQCh. 20 - Prob. 5CQQ
Ch. 20 - Prob. 6CQQCh. 20 - Prob. 1QRCh. 20 - Prob. 2QRCh. 20 - Prob. 3QRCh. 20 - Prob. 4QRCh. 20 - Prob. 5QRCh. 20 - Prob. 6QRCh. 20 - Prob. 7QRCh. 20 - Prob. 1PACh. 20 - Prob. 2PACh. 20 - Prob. 4PACh. 20 - Prob. 5PACh. 20 - Prob. 6PACh. 20 - Prob. 7PACh. 20 - Prob. 8PACh. 20 - Prob. 9PACh. 20 - Prob. 10PA
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- The following scenarios have been taken from actual answers to the Current Population Survey conducted by the Bureau of Labor Statistics. In each case classify the individual as either employed, unemployed, or not in the labor force. 1.Micheal Scott worked at a paper company for the first 3 days of the survey reference week (Monday-Wednesday). But then he got fired and spent Thursday and Friday of that week answering newspapers and internet want-ads. He still has not obtained a new job.arrow_forwardThe table gives information about a nation's labor force. What is the labor force participation rate? The labor force participation rate is _____ percent. Labor Market Data Not in labor force 70.0 million Labor force 142.6 million Employed 136.9 millionarrow_forwardThe following scenarios have been taken from actual answers to the Current Population Survey conducted by the Bureau of Labor Statistics. In each case classify the individual as either employed, unemployed, or not in the labor force. 1.Selena Meyer is a homemaker. Last week she was occupied with her normal household chores. She neither held a job nor looked for one.arrow_forward
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