EBK MACROECONOMICS
10th Edition
ISBN: 9780134896571
Author: CROUSHORE
Publisher: VST
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Chapter 3, Problem 8NP
To determine
The number of people who become
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A country has a population of 160 million. Out of this population, the number of retired people is 23 million, the number of people below working age (under 16 years) is 39 million, and the number of people under different types of institutional care is 1.5 million. In this country, the number of the employed amount to 75 million people and the unemployed amount to 4 million people. Calculate the following and show your work
Working-age population
Unemployment rate
The economic activity rate
Employment rate
Counting the unemployed? We could measure the extent of unemployment by a count (the number of people who are unemployed) or by giving a rate (the percentage of the labor force that is unemployed). The number of people in the labor force grew from 107 million in 1980, to 126 million in 1990, to 143 million in 2000, to 154 million at the end of 2007. Use these facts to explain why the count of unemployed people is not a valid measure of the extent of unemployment.
Determine the labor market status of each of the following people. If they are unemployed, can they be considered long-term unemployed?
a. Demetrius is a voice-over actor. He has a gig this week, but next week he’ll have to start auditioning for new roles.
b. Alejandra is laid off and has to take a part-time retail job because she can’t find a full-time job. She is spending her extra time learning how to code.
c. Kathryn quit her job when it was relocated too far away from her family. She has been looking for work for eight months, but so far hasn’t been called in for an interview.
Chapter 3 Solutions
EBK MACROECONOMICS
Ch. 3 - Prob. 1RQCh. 3 - Prob. 2RQCh. 3 - Prob. 3RQCh. 3 - Prob. 4RQCh. 3 - Prob. 5RQCh. 3 - Prob. 6RQCh. 3 - Prob. 7RQCh. 3 - Prob. 8RQCh. 3 - Prob. 9RQCh. 3 - Prob. 10RQ
Ch. 3 - Prob. 11RQCh. 3 - Prob. 12RQCh. 3 - Prob. 13RQCh. 3 - Prob. 14RQCh. 3 - Prob. 15RQCh. 3 - Prob. 1NPCh. 3 - Prob. 2NPCh. 3 - Prob. 3NPCh. 3 - Prob. 4NPCh. 3 - Prob. 5NPCh. 3 - Prob. 6NPCh. 3 - Prob. 7NPCh. 3 - Prob. 8NPCh. 3 - Prob. 9NPCh. 3 - Prob. 10NPCh. 3 - Prob. 1APCh. 3 - Prob. 2APCh. 3 - Prob. 3APCh. 3 - Prob. 4APCh. 3 - Prob. 5APCh. 3 - Prob. 6APCh. 3 - Prob. 7AP
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- Please explain in detail how population size impacts the rate of unemployment (at least 2 paragraphs)arrow_forwardIn 2014, the adult population was 105 million, the number of employed was 65 million, and the number of unemployed was 4.5 million. From 2014 to 2015, 2 million of employed workers became unemployment, 1.2 million of unemployed workers became employed, and 0.5 million of the unemployed workers became discouraged searchers. How many people were in the labour force in 2015? What was the unemployment rate in 2015?arrow_forwardDuring the initial months of the COVID pandemic, the number of unemployed people in the State of Illinois peaked at 1,108,211 in April 2020. By December 2021, the number of unemployed in Illinois had dropped down to 324,510 people. What is the overall percent decrease in the number of unemployed people in Illinois from April 2020 to December 2021? Please round your answer the nearest percent. Show your work.arrow_forward
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