Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 5, Problem 13APA
(a)
To determine
Determine the labor force.
(b)
To determine
Determine the number of employed people.
(c)
To determine
Determine the
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Assume the total population is 3500. Of the total population, 1800 are working full-time. Of the
not-working population, 1000 are under 16 years of age, 350 are full-time/not-working college
students, 50 were retired, 150 had stopped looking for work because they think there were no
jobs for them, and 150 are diligently looking for work.
6. Calculate # of non-labor force.
7. Calculate the unemployment rate (%).
8. Assuming "discouraged labor" is considered "unemployed," calculate the unemployment rate
(%).
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Also define employed person, unemployed person and unemployment rate.
14
Chapter 5 Solutions
Macroeconomics
Ch. 5.1 - Prob. 1RQCh. 5.1 - Prob. 2RQCh. 5.1 - Prob. 3RQCh. 5.1 - Prob. 4RQCh. 5.1 - Prob. 5RQCh. 5.2 - Prob. 1RQCh. 5.2 - Prob. 2RQCh. 5.2 - Prob. 3RQCh. 5.2 - Prob. 4RQCh. 5.2 - Prob. 5RQ
Ch. 5.2 - Prob. 6RQCh. 5.2 - Prob. 7RQCh. 5.3 - Prob. 1RQCh. 5.3 - Prob. 2RQCh. 5.3 - Prob. 3RQCh. 5.3 - Prob. 4RQCh. 5.3 - Prob. 5RQCh. 5.3 - Prob. 6RQCh. 5 - Prob. 1SPACh. 5 - Prob. 2SPACh. 5 - Prob. 3SPACh. 5 - Prob. 4SPACh. 5 - Prob. 5SPACh. 5 - Prob. 6SPACh. 5 - Prob. 7SPACh. 5 - Prob. 8SPACh. 5 - Prob. 9SPACh. 5 - Prob. 10SPACh. 5 - Prob. 11SPACh. 5 - Prob. 12APACh. 5 - Prob. 13APACh. 5 - Prob. 14APACh. 5 - Prob. 15APACh. 5 - Prob. 16APACh. 5 - Prob. 17APACh. 5 - Prob. 18APACh. 5 - Prob. 19APACh. 5 - Prob. 20APACh. 5 - Prob. 21APACh. 5 - Prob. 22APACh. 5 - Prob. 23APACh. 5 - Prob. 24APACh. 5 - Prob. 25APACh. 5 - Prob. 26APACh. 5 - Prob. 27APACh. 5 - Prob. 28APACh. 5 - Prob. 29APA
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- Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.arrow_forwardA country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.arrow_forward3. Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force 1.Steve worked 40 hours last week in a music supply store. 2. Last week, Elizabeth worked 10 hours as a computer programmer for the National Video Company and attended night classes at the local college. She would prefer a full-time job. 3. Roger lost his job at the R-gone Manufacturing Company. Since then he has been trying to find a job at other local factories. 4. Linda is a homemaker. Last week she was occupied with her normal household chores. She neither held a job nor looked for a job. 5. Linda's father is unable to work. 6. Scott has a Ph.D. He worked full-time but does not like his job as a dishwasher. He has applied for jobs with three companies and five universities. As soon as he gets an offer, he will quit his current job. 7. Mary-Helen has been out of work for a full year. She would take a job if it was offered, but no local companies are…arrow_forward
- the difference between the ‘labor force participation rate’ (LPR) and the ‘employment-to-population ratio’ (EPR), i.e. (PR-EPR), is equal to 15%. It is also known that the unemployment rate is equal to 20%, and the ‘working-age population’ is 300 million. Calculate: the number of unemployed people. the labor-force (work-force). labor force participation rate Please explain each answerarrow_forwardCalculate the size of the labour force in August and September, and show your working.arrow_forwardTable 9-2 Total population Working-age population Employed (A) (7,500/75,000) × 100. Unemployed 7,500 Consider the data above for a simple economy. B (7,500/125,000) × 100. 125,000 Refer to Table 9-2. The unemployment rate for this simple economy equals (7,500/67,500) × 100. 75,000 D) (7,500/60,000) × 100. 60,000 Garrow_forward
- The country of Bada has collected the following information: Population (working age). 240,000 Employed 180,000 Unemployed 30,000 Calculate: Labor Force = Unemployment rate = Labor-force participation rate = Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. - Last week, Elizabeth worked 10 hours as a computer programmer for the National Video Company and attended night classes at the local college. She would prefer a full-time job.arrow_forwardWhat is the term for the percentage of the total labor force that is unemployed but actively seeking employment and willing to work? A. Labor force participation rate B. Employment rate C. Unemployment rate D. Underemployment rate.arrow_forward1. The table below uses data for the year 2003 provided by the BLS and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table. Labor Force Country Adult Labor Employed Unemployed Unemployment Participation Population Force Rate Rate Japan 109,474 62,510 3.500 France 26,870 2,577 57.41 Germany 70,159 39,591 9.69arrow_forward
- The table below provides employment and labour force data for a small economy over a 3-month period. Stock of Unemployment Stock of Stock of outside the Total Population Employment 2,530,000 2,470,000 2,410,000 Labour Force Sept. 1 Oct. 1 Nov. 1 120,000 120,000 120,000 350,000 410,000 470,000 3,000,000 3,000,000 3,000,000 a. What is the unemployment rate on September 1, October 1, and November 1? b. Explain why the unemployment rate changes even though the stock of unemployment remains stable. c. Provide a likely explanation for the change in this economy's labour force. In this case, is the unemployment rate an accurate measure of the amount of slack (excess supply) in the labour market? a. The unemployment rate on September 1 is %. (Round your response to two decimal places.)arrow_forward1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Yakov, Ana, Charles, Dina, Juanita, and Gilberto. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Yakov is a 43-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Ana is a 35-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Charles is a 41-year-old graphic designer who is taking 2 years off…arrow_forwardAdult population 2,189,000 Employed 1,043,000 Not in the labour force 723,000 How many adults are in the labour force? What is the unemployment rate? How many adults are unemployed? What is the labour force participation rate?arrow_forward
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