Homework Answers
The correct answer is option 2
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Explanation:- Unemployment rate is calculated using the following expression
Number of people in the labor force = Number of people unemployed + Number of people employed
Number of people in the labor force = U + E
where u = number of unemployed
E = number of people employed
Add Answer to:
labor force participation
increasea in the number or unemployea relative to the size of the tapor...
in 2007 the us labor force was equal to thousands QUESTION 1 Refer to the data...
in 2007 the us labor force was equal to thousands
QUESTION 1 Refer to the data in the table to answer all of the questions that follow. All of the numbers are from the Bureau of Labor Statistics. The Civilian Noninstitutional Population' is defined as "persons 16 years of age and older residing in the 50 states and the District of Columbia who do not live in institutions (for example. correctional facilities, long-term care hospitals, and nursing homes) and who...
1) The table below lists the number of people by labor force classification for the country...
1) The table below lists the number of people by labor force classification for the country of Grenyarnia. Employed 78 million Unemployed 12 million Not in the Labor Force 30 million a.) Calculate the number in the labor force, and the unemployment rate. b.) Calculate the number in the adult population, and the labor force participation rate. c.) Suppose 8 million people who were previously employed become discouraged workers. Recalculate the unemployment rate and the labor force participation rate. d.)...
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...
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...
QUESTION 18 The labor force is the number of employed people plus the number of unemployed...
QUESTION 18 The labor force is the number of employed people plus the number of unemployed people. total population divided by the number of employed people. number of employed people in the working-age population. number of employed people minus the number of unemployed people. 2 points QUESTION 19 Category Number of People (Millions) Total Population 300 Working-Age Population 220 Labor Force 145 Employed Workers 140 Calculate the unemployment rate. (Round to two decimal places) Calculate the Labor Force Participation...
Employment Unemployment Rate homeboyment Labor Force Labor Force Adult (in Population thousands) (in thousands) | Number...
Employment Unemployment Rate homeboyment Labor Force Labor Force Adult (in Population thousands) (in thousands) | Number Employed Unemployed (in Year in thousands) thousands) 2019 5,989 157,529 2018 6,308 155,760 2017 6,979 153,334 2016 7,757 151,439 2015 8,294 148,845 2014 9,602 146,319 2013 11,457 143,941 2012 12,499 142,475 2011 13,739 139,885 2010 14,808 139,077 2009 14,295 139,894 Labor Force Participation Rate 63.1% 62.9% 62.8% 62.8% 62.7% 62.9% 63.3% 63.7% 64.1% 64.7% 65.4% *Real-time data provided by Federal Reserve Economic Data (FRED),...
The table below shows labor market statistics for a nation. 3 million Number of Workers Structurally...
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
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 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:
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...
in 2007 the us labor force was equal to thousands
QUESTION 1 Refer to the data in the table to answer all of the questions that follow. All of the numbers are from the Bureau of Labor Statistics. The Civilian Noninstitutional Population' is defined as "persons 16 years of age and older residing in the 50 states and the District of Columbia who do not live in institutions (for example. correctional facilities, long-term care hospitals, and nursing homes) and who...
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...
Employment Unemployment Rate homeboyment Labor Force Labor Force Adult (in Population thousands) (in thousands) | Number Employed Unemployed (in Year in thousands) thousands) 2019 5,989 157,529 2018 6,308 155,760 2017 6,979 153,334 2016 7,757 151,439 2015 8,294 148,845 2014 9,602 146,319 2013 11,457 143,941 2012 12,499 142,475 2011 13,739 139,885 2010 14,808 139,077 2009 14,295 139,894 Labor Force Participation Rate 63.1% 62.9% 62.8% 62.8% 62.7% 62.9% 63.3% 63.7% 64.1% 64.7% 65.4% *Real-time data provided by Federal Reserve Economic Data (FRED),...
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
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:
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...
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