ZuoTi.Pro
Question
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 wor

F LITERATURE The labor force participation rate is the percentage of the working age population in the labor force. Suppose a
The unemployment rate O A. shows the percentage of the population that is considered unemployed OB. shows the percentage of t

The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities

What index is used to measure the average prices paid by a typical family? An average of the prices of the goods and services
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer:

Question 1)

Total Work age Popultion L=400 Millions

Total Labor force F = workers employed + workers unemployed =320+12=332 millions

So Labor force participation rate = F/L = 332/400=83%

0 0
Add a comment
Know the answer?
Add Answer to:
I need some help completing this exercise on unemployment and inflation and labor force participation In...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 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...

  • 5. Find the labor force participation rate and unemployment rate given the following information about an...

    5. Find the labor force participation rate and unemployment rate given the following information about an economy:                 Population (working age)   120                 Labor Force                          80        PLEASE JUST ANSWER THE QUESTION 6.                 # Employed                          70 Assume in the problem above 5 of the unemployed became discouraged workers. Calculate new official unemployment rate in this economy. Comment on your finding.

  • 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

  • See the example from Table 8.1. Calculate the new labor force participation rate and unemployment rate...

    See the example from Table 8.1. Calculate the new labor force participation rate and unemployment rate if 700,000 people stopped seeking work. Total adult population over the age of 16 249.9 million In the labor force 157 million (62.8%) Employed 148.3 million Unemployed 8.7 million Out of the labor force 92.9 million (37.2%)

  • 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...

  • 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...

  • 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...

  • 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?

  • 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.

    3. The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million e. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT