Homework Answers
Total employed = 409800 + 19807 = 429607
Labor force = total employed + unemployed but looking for work = 429607 + 24139 = 453746
Labor force participation rate = Labor force / Adult population * 100 = 453746 / 683000 * 100 = 66.43%
Unemployment rate = Unemployed / Labor force * 100 = 24139 / 453746 * 100 = 5.32%
Add Answer to:
Suppose the government of a small nation has provided the following data: Adult Population Full-time Workers...
Suppose the government of a small nation has provided the following data: Adult Population 692,000 Full-time...
Suppose the government of a small nation has provided the following data: Adult Population 692,000 Full-time Workers 401,360 Part-time Workers 14,532 Unemployed workers actively looking for work 36,361 Unemployed workers who have become discouraged 11,764 Part-time workers under 16 2,076 Unemployed workers under 16 actively looking for work 692 Instructions: Round your answers 2 decimal places. What is the labor force participation rate? ____ percent What is the unemployment rate? _____ percent
Number of people (millions) 14 123 Category Institutionalized Full-time workers Less than 16 years of age...
Number of people (millions) 14 123 Category Institutionalized Full-time workers Less than 16 years of age Armed forces (noncivilian) Part-time workers Population Looking for work 1E) 20 27 314 12 The unemployment rate is (calculate to the nearest one-tenth of a percent) 9 See Hint Part 2 (2 points) If 4 million of those who are currently unemployed become discouraged workers, the unemployment rate will The unemployment rate is now decrease calculate to the nearest one-tenth of a percent)
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed...
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed workers but discouraged from job search Unemployed workers but actively seeking jobs Employed workers in the underground 85 million 20 million 5 million 12 million 7 million economy Retirees, full-time students, and stay- home parents 8 million (a) With the data above, clearly show your steps and calculate the economy's unemployment rate. (b) Briefly discuss three (3) criticisms or shortcomings of the United States'...
A group of 10 people includes 3 retirees, 2 part-time workers, 2 discouraged workers, 1 unemployed worker, and 2 full-ti...
A group of 10 people includes 3 retirees, 2 part-time workers, 2 discouraged workers, 1 unemployed worker, and 2 full-time workers. If the discouraged workers in this group became active job searchers, the: unemployment rate would fall. labor force participation rate would fall. unemployment rate and the labor force participation rate would rise. unemployment rate and the labor force participation rates would both fall.
It is graduation time in a small island nation. There are a total number of 17,688...
It is graduation time in a small island nation. There are a total number of 17,688 graduating from college and are actively looking for work. The college graduates are not included in the current employment measures for the country, which are given in the table. Answer the related questions taking into account the college graduates and the information in the table. Number of employed Number of unemployed Total population over age 16 335,915 15,483 415,999 What is the size of...
Question 5 a) Statistics Canada counts as employed people who work part-time but would prefer to...
Question 5 a) Statistics Canada counts as employed people who work part-time but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. b) The labour force survey does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. c) How...
Suppose that the population over age 16 (adult population) is 150 million and the number of...
Suppose that the population over age 16 (adult population) is 150 million and the number of discouraged workers is 5 million. Moreover, in the month of November 2019, the number of people with full-time jobs was 70 million, and the number of people with part-time jobs was 5 million. If the labour force was 90 million, then calculate values of the following variables. (a). Unemployment rate in November 2019. (b). Labour force participation rate in November 2019.
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million...
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million Not in Labor Force 85 million Discouraged workers 2 million Involuntary part-time workers 8 million Unemployed 15 million Employed 150 million a. Compute the labor force participation rate. (2pts) b. Compute the official unemployment rate (U-3). (2pts) c. Suppose that 2 million jobless people (i.e., unemployed) suddenly quit looking for a job. How does it affect the labor force participation rate and the official...
2. Discouraged workers following statements correctly describe discouraged workers? (If none of the choices apply...
2. Discouraged workers following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all Which of the that apply. They have given up on looking for a job. They are dissatisfied with their current jobs and are e considering quitting. They are full-time workers who would like to work only part-time. They are counted as part of the labor force by the Bureau of Labor Statistics. The following table contains U.S....
Assume you have the following information about an economy. Labor Force of an Economy Population over...
Assume you have the following information about an economy. Labor Force of an Economy Population over age 16 Labor force Not in the labor force Employed Unemployed Number of People (millions) 243.8 153.6 90.2 144.2 9.4 Instructions: Round your answers to two decimal places. a. What is the unemployment rate in this economy? % b. What is the labor force participation rate? C. Assume that 0.9 million discouraged workers decide to start looking for work again, thereby increasing the number...
Number of people (millions) 14 123 Category Institutionalized Full-time workers Less than 16 years of age Armed forces (noncivilian) Part-time workers Population Looking for work 1E) 20 27 314 12 The unemployment rate is (calculate to the nearest one-tenth of a percent) 9 See Hint Part 2 (2 points) If 4 million of those who are currently unemployed become discouraged workers, the unemployment rate will The unemployment rate is now decrease calculate to the nearest one-tenth of a percent)
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed workers but discouraged from job search Unemployed workers but actively seeking jobs Employed workers in the underground 85 million 20 million 5 million 12 million 7 million economy Retirees, full-time students, and stay- home parents 8 million (a) With the data above, clearly show your steps and calculate the economy's unemployment rate. (b) Briefly discuss three (3) criticisms or shortcomings of the United States'...
It is graduation time in a small island nation. There are a total number of 17,688 graduating from college and are actively looking for work. The college graduates are not included in the current employment measures for the country, which are given in the table. Answer the related questions taking into account the college graduates and the information in the table. Number of employed Number of unemployed Total population over age 16 335,915 15,483 415,999 What is the size of...
Question 5 a) Statistics Canada counts as employed people who work part-time but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. b) The labour force survey does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. c) How...
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million Not in Labor Force 85 million Discouraged workers 2 million Involuntary part-time workers 8 million Unemployed 15 million Employed 150 million a. Compute the labor force participation rate. (2pts) b. Compute the official unemployment rate (U-3). (2pts) c. Suppose that 2 million jobless people (i.e., unemployed) suddenly quit looking for a job. How does it affect the labor force participation rate and the official...
2. Discouraged workers following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all Which of the that apply. They have given up on looking for a job. They are dissatisfied with their current jobs and are e considering quitting. They are full-time workers who would like to work only part-time. They are counted as part of the labor force by the Bureau of Labor Statistics. The following table contains U.S....
Assume you have the following information about an economy. Labor Force of an Economy Population over age 16 Labor force Not in the labor force Employed Unemployed Number of People (millions) 243.8 153.6 90.2 144.2 9.4 Instructions: Round your answers to two decimal places. a. What is the unemployment rate in this economy? % b. What is the labor force participation rate? C. Assume that 0.9 million discouraged workers decide to start looking for work again, thereby increasing the number...
Most questions answered within 3 hours.
-
Two waves are traveling on a string, one with a wave function,
y1 = 0.05sin(4x -...
asked 4 minutes ago -
Develop an ideal customer profile for three Dell Customer
groups( a supplier, a global business, and...
asked 7 minutes ago -
Suppose, for any future year, the probability its October rain
is more than 3 inches is...
asked 11 minutes ago -
Solve the following systems of linear equations using
substitution 12p + 3q = 15 6q +...
asked 18 minutes ago -
Prof. D went grocery shopping and purchased one dozen eggs and
one pound of flour (all...
asked 25 minutes ago -
If
somehow loop of Henle were removed - that is if the proximal tubule
was connected...
asked 25 minutes ago -
Add 1ml of 0.18M of HCl (aq) to 1ml of 0.2M of [Ag(NH3)2]Br
(aq).
Write the...
asked 33 minutes ago -
1. Smoke detectors use Am-241, an alpha emitter, to detect smoke
particles. A parent is concerned...
asked 37 minutes ago -
Scenario: Web application developed to capture customers
demographic and financial information for filling their taxes. This...
asked 41 minutes ago -
Which of the following statements are true?
1. Glass is mostly silicon dioxide and so when...
asked 1 hour ago -
Korman Company has the following securities in its portfolio of
equity securities on December 31, 2018:...
asked 1 hour ago -
Using the 12th edition of Language Awareness,
complete the following assignment:
After reading Akiba Solomon's "Thugs....
asked 1 hour ago