Calculate:    Labor Force =    Unemployment rate =    Labor-force participation rate =    Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. .   Scott has a Ph.D. He worked full-time but doesn't like his job as a dishwasher. He has applied for jobs with three companies and five universities. As soon as he gets an offer, he'll quit his current job.

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
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The country of Bada has collected the following information:

 

 Population (working age).   240,000 

 

Employed         180,000 

 

Unemployed      30,000 

 

Calculate: 

 

Labor Force = 

 

Unemployment rate =

 

 Labor-force participation rate =

 

 Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. .

 

  1. Scott has a Ph.D. He worked full-time but doesn't like his job as a dishwasher. He has applied for jobs with three companies and five universities. As soon as he gets an offer, he'll quit his current job.
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