Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 22, Problem 1SPPA
To determine
To classify:
The individuals into labor market category used by the BLS, and mention whether the workers are part-time or full-time and also mention which part time worker is doing job for economic reasons.
Expert Solution & Answer
Explanation of Solution
Household 1: Ms. C is working part time because she has worked less than 35 hours a week. She is also looking for a job as she has attended two job interviews also. Mr. J is working full time as he is working more than 35 hours a week. Ms. M is a student and is working part time, 10 hours a week, to meet her daily living expenses and pay her college fees.
Household 2: Mr. J is working full time but was on vacation for one week. Whereas, his wife, Mrs. S is currently working part time and also looking for a full time job. She is working part time until she finds a full time job.
Household 3: Ms. A is working full time and his partner Ms. K did not find job, so she left the labor force and joined school to complete her education. This will improve her resume and her chance of getting a job after completing school will increase.
Household 4: M and H are retired so they are out of labor force. While, their son H is working part time as he is working less than 35 hours per week. He is working part time to earn his livelihood.
Economics Concept Introduction
Part time job:
A person who works less than 35 hours a week is said to be doing a part time job. This job is basically done to earn extra income.
Full time workers:
The workers who work for more than 35 hours a week are said to be full-time workers. People do full time job to earn money on a salary basis.
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Foundations of Economics (8th Edition)
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