Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy?
a. 30 million
b. 188 million
c. 282 million
d. 300 million
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour.
How many workers will be hired if the hourly wage for workers is $30?
Select one:
a. 1
b. 2
c. 3
d. 4
Homework Answers
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Data for an economy show that the unemployment rate is 6
percent, the participation rate 60...
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of...
3. The table below shows unemployment and labor force statistics for an economy.Actual rate of unemployment3%Natural rate of unemployment4%Population of the country125mitlonNumber of people employed97miltionNumber of people unemployed3 millionNumber of people employed part-time5 millionNumber of discouraged workers2 milliona. Calculate the size of the labor force.b. Calculate the labor force participation rate. Show your work.c. Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain.d. Calculate...
help Explan. 1.8 Suppose the number of employed people in an economy is 312,545,372. The unemployment...
help
Explan. 1.8 Suppose the number of employed people in an economy is 312,545,372. The unemployment rate in this economy is 7.4 percent, or 074, and the labor force participation rate is 80 percent, or 80. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population? On og notion in Eurone nay higher unemployment
I need some help completing this exercise on unemployment and inflation and labor force participation In...
I
need some help completing this exercise on unemployment and
inflation and labor force participation
In an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million workers are unemployed 56.0 million workers are not available for work (homemakers, full-time students, etc.) 8.0 million workers are available for work but are discouraged and thus are not seeking work 4.0 million workers are available for work but are not currently seeking work due to...
2. Show work. Examine the following statistics about the economy and answer the questions below: Unemployment...
2. Show work. Examine the following statistics about the economy and answer the questions below: Unemployment rate: 10% Number of employed: 180 mil Labor force participation rate: 64% How many people are unemployed and how many people are in the labor force? b. How many people are classified as not being in the labor force?
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January...
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January 2017 256.78 million individuals 16 years of age and older. 154.43 million employed. 6.68 million unemployed. In the U.S. economy, the labor force is million. (Enter your response rounded to two decimal places.) The labor force participation rate is percent. (Enter your response as a percentage rounded to two decimal places.) The unemployment rate is percent. (Enter your response as a percentage rounded to...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of Workers Chairs Produced per Hour 2 3 18 24 28 30 What is the "Value of the Marginal Product" (VMP) for the third worker?
Picture an economy with 100,000 workers in its labor force. The unemployment rate is simply the...
Picture an economy with 100,000 workers in its labor force. The unemployment rate is simply the number of unemployed workers divided by the number of workers in the labor force. At the beginning of January, the unemployment rate is 4.76%, so 4,760 people in the labor force are unemployed. Suppose that in January, 10% of the workers who were unemployed at the beginning of the month start new jobs. This means that ________ people leave the unemployment category in January....
Suppose that some country had an adult population of about 46 million, a labor-force participation rate...
Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75% and unemployment rate of 8% How many people were employed? A. 2.76 Million B. 31.74 Million C.34.5 Million D.42.32 Million
1. Suppose 21 million people are unemployed today in an economy. If the rate of job...
1. Suppose 21 million people are unemployed today in an economy. If the rate of job separation is 0.02 per month and the rate of job finding is 0.08 per month, what is the natural rate of unemployment? If labor force remains unchanged over time and 64 million people are employed in the steady-state of the economy, how many people are unemployed in the steady-state?
11. Given the following data, what is the labor force participation rate? Populatiorn Civilian, non-institutionalized population,...
11. Given the following data, what is the labor force participation rate? Populatiorn Civilian, non-institutionalized population, age 16 and over Employed persons Unemployed persons 200 million 150 million 100 million 50 million 66.7% b. 75% 80% d. 84% e. 100% a. с. 12. In problem 11, how many NILFs were there? a. none e. I don't know; I was expecting some kind of joke about your mom b. 50 million c. 100 milliond. 200 million 13. If discouraged workers all...
help
Explan. 1.8 Suppose the number of employed people in an economy is 312,545,372. The unemployment rate in this economy is 7.4 percent, or 074, and the labor force participation rate is 80 percent, or 80. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population? On og notion in Eurone nay higher unemployment
I
need some help completing this exercise on unemployment and
inflation and labor force participation
In an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million workers are unemployed 56.0 million workers are not available for work (homemakers, full-time students, etc.) 8.0 million workers are available for work but are discouraged and thus are not seeking work 4.0 million workers are available for work but are not currently seeking work due to...
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January 2017 256.78 million individuals 16 years of age and older. 154.43 million employed. 6.68 million unemployed. In the U.S. economy, the labor force is million. (Enter your response rounded to two decimal places.) The labor force participation rate is percent. (Enter your response as a percentage rounded to two decimal places.) The unemployment rate is percent. (Enter your response as a percentage rounded to...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of Workers Chairs Produced per Hour 2 3 18 24 28 30 What is the "Value of the Marginal Product" (VMP) for the third worker?
11. Given the following data, what is the labor force participation rate? Populatiorn Civilian, non-institutionalized population, age 16 and over Employed persons Unemployed persons 200 million 150 million 100 million 50 million 66.7% b. 75% 80% d. 84% e. 100% a. с. 12. In problem 11, how many NILFs were there? a. none e. I don't know; I was expecting some kind of joke about your mom b. 50 million c. 100 milliond. 200 million 13. If discouraged workers all...
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