12) In a small town of 125 people there are 25 people under 16. Out of the remaining persons, there are 10 retired people, 63 people will full-time jobs, 5 people with part-time jobs, 2 full-time students, 4 full-time homemakers, and 16 people who do not have jobs, but want them. Only 12 of these latter 16 people without jobs had actively looked for a job in the preceding four weeks. In this town, the unemployment rate, (U3), is A) 17.0 B) 25.0 C) 15.0 D) 16.0 E) 12.0 %.
12) In a small town of 125 people there are 25 people under 16. Out of the remaining persons, there are 10 retired people, 63 people will full-time jobs, 5 people with part-time jobs, 2 full-time students, 4 full-time homemakers, and 16 people who do not have jobs, but want them. Only 12 of these latter 16 people without jobs had actively looked for a job in the preceding four weeks. In this town, the unemployment rate, (U3), is A) 17.0 B) 25.0 C) 15.0 D) 16.0 E) 12.0 %.
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 12E
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning