Question

Concept Question 9.1.2 Question Help Suppose a country surveys households and finds that 150 million people can be classified

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer

Unemployment rate = (Number of unemployed / (Labor Force))*100

Labor Force = Number of unemployed + Number of employed = 7 million + 150 million = 157 million

Hence, Unemployment rate = (Number of unemployed / (Labor Force))*100 = (7 million / (157 million))*100

=> Unemployment rate = 4.46%

Hence, Unemployment rate for this country is 4.46%

Add a comment
Know the answer?
Add Answer to:
Concept Question 9.1.2 Question Help Suppose a country surveys households and finds that 150 million people...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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
  • Suppose a country surveys households and finds that 155 million people can be classified as being...

    Suppose a country surveys households and finds that 155 million people can be classified as being employed and 10 million people can be classified as being unemployed. The unemployed are people who do not have jobs but are actively looking for work. Given this information, what do we know about the unemployment rate for this country? The unemployment rate for this country is %. (Round your response to two decimal places.) Suppose this country has a natural rate of unemployment...

  • Suppose country A has a total population of 1200. There are 200 children and 1000 adults....

    Suppose country A has a total population of 1200. There are 200 children and 1000 adults. Of the 1000 adults, 850 are employed. Of the remaining 150 adults, 100 are not employed but are actively seeking work, and the remaining 50 are not employed and not actively seeking work. a. calculate and interpret the labor force participation rate. b. Calculate the unemployment rate and interpret it. Suppose of the 100 individuals who are unemployed, 20 are in the middle of...

  • After a financial crisis hits the country of Arcadia, 22 million people become unemployed. If 5555...

    After a financial crisis hits the country of Arcadia, 22 million people become unemployed. If 5555 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to two decimal places. unemployment rate:________________% Which of the choices is most directly related to cyclical unemployment? A.) the age distribution of the country B.) an increased use of the Internet for job searches C.) recessions D.) an increase in the number of new college graduates...

  • 1. (5 points) Suppose that in the country of Atlantis 30 million people are not in...

    1. (5 points) Suppose that in the country of Atlantis 30 million people are not in the labor force, 80 million people are employed and 5 million are unemployed, then (a) What is the size of the labor force? (b) What is the size of the adult population? (b) What is the labor force participation rate? (c) What is the unemployment rate?

  • The options for the first question are 1. Household survey's 2. private-sector payroll's 3. unemployment office...

    The options for the first question are 1. Household survey's 2. private-sector payroll's 3. unemployment office registrations Suppose a government report about a country's employment situation reveals the following data (all values are in millions of people) 260Working-age population 90Employed people 28People not working but actively looking for work 34 Unemployed people who have stopped looking for work 108 People not working and not seeking work If the country in question is the United States, these data are obtained from...

  • QUESTION 1 A country has 120 million population, 100 million in labor force, 90 million are...

    QUESTION 1 A country has 120 million population, 100 million in labor force, 90 million are employed. What is the unemployment rate? (enter only numbers) (two decimal) (do not put in %, comma, S) Then a month later, 5 million people gave up looking for jobs. What is the new unemployment rate? (enter only numbers) (two decimal) (do not put in %, comma, S) For example, if your calculation is 10.192374%, put in your answer as 10.19 For example, if...

  • In the Recession Union, there are currently 2,500,000 people employed and 500,000 actively looking for work....

    In the Recession Union, there are currently 2,500,000 people employed and 500,000 actively looking for work. In particular, of those unemployed, the government of the Recession Union calculates that one fourth of those who are unemployed owe their unemployment to the current economic downturn the country is experiencing. The rest are unemployed for different reasons. What is the natural rate of unemployment in the Recession Union? (Note for answering: If your answer is 20%, type into the answer box 20).

  • 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.)...

  • 9. (3 points) Suppose there are 90 million people who are employed. The unemployment rate is...

    9. (3 points) Suppose there are 90 million people who are employed. The unemployment rate is 10%. 20 million people who are at least 16 years old are not in the labor force. The labor force has _ million people. The working age population is million. There are million unemployed people.

  • 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...

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