Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 22, Problem 2SPPA
To determine
To compute:
The
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Using the following data calculate:
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part -Time Workers
56 family workers who worked 15 hrs a week
234 Self Employed
6543 Discouraged Workers
67, 432 (ages 23-25) looking for work
67, 890 laid off receptionists looking for work
544, 321 (ages 16-20) looking for work
Current population is 6,000,000
5454 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
(iv) The labour force Participation rate
(v). The "official" unemployment rate
Type answer please
Using the following data calculate:
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part -Time Workers
56 family workers who worked 15 hrs a week
234 Self Employed
6543 Discouraged Workers
67, 432 (ages 23-25) looking for work
67, 890 laid off receptionists looking for work
544, 321 (ages 16-20) looking for work
Current population is 6,000,000
5454 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
(c) suppose that 20,000of tghe employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not workingnand not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unnemployment rate.
(d) Illustrate and carefully explain the impact of an increase in the…
Using the following data calculate:
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part -Time Workers
56 family workers who worked 15 hrs a week
234 Self Employed
6543 Discouraged Workers
67, 432 (ages 23-25) looking for work
67, 890 laid off receptionists looking for work
544, 321 (ages 16-20) looking for work
Current population is 6,000,000
5454 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
(i). The number of persons employed.
(ii). The number of persons unemployed.
(iii). The labour force.
Type answer please
Chapter 22 Solutions
Foundations of Economics (8th Edition)
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- Age Employed (Thousands of People) Unemployed (Thousands of People) Not in Labor Force (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 1) What is the national Unemployment rate? 2) Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over 3) Which of the following groups has an unemployment rate lower than the national average unemployment rate?arrow_forwardhelparrow_forwardNick is a 75-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Not in the labor force Rosa is a 36-year-old autoworker who was just laid off by her employer. She is trying to find any kind of job to help make ends meet. Not in the adult population Tim is a 43-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago. Crystal is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Brian is a 20-year-old American Studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama. Alyssa is a 12-year-old student at East Valley Middle School. She…arrow_forward
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