Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
8th Edition
ISBN: 9781337607735
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 28, Problem 1QR
To determine
Computation of labor force, unemployment rate, and labor force participation rate.
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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 28 Solutions
Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
Ch. 28.1 - Prob. 1QQCh. 28.2 - Prob. 2QQCh. 28.3 - Prob. 3QQCh. 28.4 - Prob. 4QQCh. 28.5 - Prob. 5QQCh. 28 - Prob. 1CQQCh. 28 - Using the numbers in the preceding question, what...Ch. 28 - Prob. 3CQQCh. 28 - Prob. 4CQQCh. 28 - Prob. 5CQQ
Ch. 28 - Prob. 6CQQCh. 28 - Prob. 1QRCh. 28 - Prob. 2QRCh. 28 - Prob. 3QRCh. 28 - Prob. 4QRCh. 28 - Prob. 5QRCh. 28 - Prob. 6QRCh. 28 - Prob. 7QRCh. 28 - Prob. 1PACh. 28 - Prob. 2PACh. 28 - Prob. 4PACh. 28 - Prob. 5PACh. 28 - Prob. 6PACh. 28 - Prob. 7PACh. 28 - Prob. 8PACh. 28 - Prob. 9PACh. 28 - Prob. 10PA
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