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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Question
Chapter 28.1, Problem 1QQ
To determine
The measurement of unemployment rate.
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1
2. Assume that the employment data (in millions) are
Population (16 and over) = 243.190
Labor force = 161.600
Unemployment = 7.757
A. Calculate the number of people (16 years old and over) not in the labor force.
B. Calculate the number of employed civilian workers.
C. What is the unemployment rate?
How is the unemployment rate measured?
Question 2Answer
a.
The number of unemployed divided by the labour force
b.
The number of unemployed divided by the population
c.
The number of unemployed divided by the number of people under the age of 15
d.
The number of unemployed divided by the number of employed
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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- 15. Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or.104, and the labor force participation rate is 72.5 percent, or .725. &. What is the size of the labor force? b. How many people are unemployed? s What is the size of the working-age population? toTTATRarrow_forward16. Assess whether the following would be counted as "unemployed" in the Current Employment Statistics survey. A. A husband willingly stays home with children while his wife works. B. A manufacturing worker whose factory just closed down. C. A college student doing an unpaid summer internship. D. A retiree. E. Someone who has been out of work for two years but keeps looking for a job. F. Someone who has been out of work for two months but isn't looking for a job. G. Someone who hates her present job and is actively looking for another one. H. Someone who decides to take a part time job because she could not find a full time position.arrow_forwardTyped plzzzx Asaparrow_forward
- QUESTION 49 How would you define the number of people who are unemployed? O a. The number of people of working age who do not have a job O b. The number of adults who are willing to work at the current wage rate but do not have a job O c. The number of people of working age who are willing to work at the current wage rate but do not have a job O d. The number of adults who do not have a jobarrow_forwardAssess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.arrow_forwardSuppose, iln an Economy there are 500 adult people (15-65 age bracket). Out of them 315 are employed and 35 are unemployed. How much is the unemployment rate? Employment rate? Labor force participation rate?arrow_forward
- 11arrow_forward• Unemployment • How do economists measure unemployment? Why is unemployment not a perfect measure of joblessness? Visit the Bureau of Labor Statistics website and explore the national unemployment rate section. What is the current level of national unemployment? Has it increased or decreased? Explain why the unemployment rate has changed.arrow_forwardStatistics Canada reported the following data for March 2020: Variable Value Labour force participation rate (percentage) Working-age population Employment rate (percentage) 63.5 31,074,000 58.5 Using this information, calculate Canada's unemployment rate in March 2020. Round your answer to one decimal place. O A. 7.7% O B. 7.9% O C. 8.2% O D. 8.1%arrow_forward
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