Suppose an economy is given by: Population =219 million Working-age population =113 million Labor force =86...
Suppose an economy is given by:
Population =219 million
Working-age population =113 million
Labor force =86 million
The number of people employed =80 million
The number of people unemployed =6 million
The labor force participation rate for this economy is ______ %.
(Enter your response rounded to one decimal place
Homework Answers
Labor force participation rate = labor force *100 / working age
population
= 86*100/113= 76.1
Add Answer to:
Suppose an economy is given by:
Population =219 million
Working-age population =113 million
Labor force =86...
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...
Find the working-age population, labor force, number of employed workers, and number of unemployed workers. Ellen...
Find the working-age population, labor force, number of
employed workers, and number of unemployed workers.
Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to collect: Unemployment rate | 56% | Participation rate 62.5% Not in the labor force61.5 million Find the working-age population, the labor force, the number of employed workers, and the number of unemployed workers. Instructions: Enter your responses rounded to...
In an economy, the working-age population is 200 million of this total, 150.0 million workers are...
In an economy, the working-age population is 200 million of this total, 150.0 million workers are employed. 8.0 million workers are unemployed. 32.0 million workers are not available for work (homemakers, full-time students, etc.) 6.0 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 transportation or childcare problems. The labor force participation rate in this economy is %. (Round...
6) Suppose the working-age population is 220 million, the labor force is 150 million, and the...
6) Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is A) 7 million B) 15 million. C) 22 million D) 37 million. E) 70 million.
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...
Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor...
Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people. How many million people are unemployed?
Suppose the economy has a population of 40 million people and a labor force participation rate...
Suppose the economy has a population of 40 million people and a labor force participation rate of 50%. Furthermore, suppose the natural rate of unemployment in the economy is 7%. If the current number of unemployed people is 3 million people, what is the rate of cyclical unemployment rate? Answer: % Your Answer:
Suppose the economy of Portlandia has an adult (over age 16) population of 15300, with a...
Suppose the economy of Portlandia has an adult (over age 16) population of 15300, with a labor force of 13005 people and 650 unemployed people. Calculate the labor force participation rate: Suppose the economy of Boxtown has an adult (over age 16) population of 16500, with a labor force of 13200 and 660 unemployed people. 74 42 How many people are employed? Suppose the economy of Torania has an adult (over age 16) population of 13600, with a labor force...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate:...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estímate in B? Explain why the increase in unemployment may be due...
Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these,...
Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.6 million are working part-time and 15.71 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 3.20 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked...
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...
Find the working-age population, labor force, number of
employed workers, and number of unemployed workers.
Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to collect: Unemployment rate | 56% | Participation rate 62.5% Not in the labor force61.5 million Find the working-age population, the labor force, the number of employed workers, and the number of unemployed workers. Instructions: Enter your responses rounded to...
In an economy, the working-age population is 200 million of this total, 150.0 million workers are employed. 8.0 million workers are unemployed. 32.0 million workers are not available for work (homemakers, full-time students, etc.) 6.0 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 transportation or childcare problems. The labor force participation rate in this economy is %. (Round...
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...
Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people. How many million people are unemployed?
Suppose the economy has a population of 40 million people and a labor force participation rate of 50%. Furthermore, suppose the natural rate of unemployment in the economy is 7%. If the current number of unemployed people is 3 million people, what is the rate of cyclical unemployment rate? Answer: % Your Answer:
Suppose the economy of Portlandia has an adult (over age 16) population of 15300, with a labor force of 13005 people and 650 unemployed people. Calculate the labor force participation rate: Suppose the economy of Boxtown has an adult (over age 16) population of 16500, with a labor force of 13200 and 660 unemployed people. 74 42 How many people are employed? Suppose the economy of Torania has an adult (over age 16) population of 13600, with a labor force...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estímate in B? Explain why the increase in unemployment may be due...
Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.6 million are working part-time and 15.71 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 3.20 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked...
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