Calculate the labor force participation rate and unemployment rate where a country's total population is 43587458 and 10% of total population is under- age, unemployment is 12% of working age population and employment is 68% of total population.

Calculate the labor force participation rate and unemployment rate where a country's total population is 43587458 and 10% of total population is under- age, unemployment is 12% of working age population and employment is 68% of total population.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 13RQ: What happens to the labor force participation rate when employed individuals are reclassified as...

See similar textbooks

Related questions

Q: The Consumer Price Index (CPI) another country can be modeled by I(t) = -.078t³ + 0.95t? + 1.32t +…

A: CPI is a measure of the average change over time in the prices paid by urban consumers for a market…

Q: A) What is the consumer price index (CPI) for 1996? B) What is the consumer price index…

A: Since you have asked for multiple questions, we have answered first three parts of the first…

Q: Ley statistics easonally adjusted estimates for Septeml Unemployment rate increased to Participation…

A: The unemployment rate often declines when there is rise in the number of employed workers. the…

Q: Year 1 Year 2 Employment (households survey) 5,100 5,200 Labor Force 6,000 6,100 Population 10,000…

A: The number of unemployed people in year 1 is given as: Number of people unemployed in year 1= Labor…

Q: The Consumer Price Index (CPI) is a measure of the average change in price over time from a…

A: Answer: It is given that the price change in cars is parallel to the change in CPI. It means the…

Q: Calculate the missing values in the table below by using the provided data collected in the…

A: Labor force is the number of people who willing to work and working age people who able to work so…

Q: Year Unemployment rate(%) 20XX 7.3 30XX 7.9 40XX 6.8 50XX 5.6 60XX 4.8 70XX 4.0 80XX…

A: The trend of the unemployment rate over the years from 20XX to 80XX can be explained as follows:

Q: Civilian Employment = 157722 Unemployment = 6270 Not in Labor Force = 99333 Use the values…

A: Here, information about employment, unemployment and not is labor force is given. To find:…

Q: norminal GDP real GDP 2000 13000 12900…

A: Formula: GDP Deflator = (Nominal GDP / Real GDP) *100. Inflation rate = {(Present year GDP…

Q: All population of the country is 1 300 000. In age group 15-74 are 1 000 000 inhabitants. Active…

A: The pct, that is calculated by dividing range|the amount|the quantity} of unemployed persons by the…

Q: The table below shows six years of hypothetical CPI values for the United States. Using the…

A: Answer: Inflation rate: inflation rate tells the growth rate of the general price level over a…

Q: Suppose, in an Economy there are 800 adult people (15-65 age bracket). Out of them 540 are employed…

A: Unemployment Rate = Unemployed / Labor Force * 100 Employment Rate = Employed / Labor Force * 100…

Q: Suppose the basket of goods used for a Canadian university student price index consists of 2 terms…

A: Answer A Consumer Price Index(CPI) Can be calculated by CPI = Cost of market Basket in Given…

Q: In 2020, the all ages population of Canada was 36552939, out of which the population under 15 years…

Q: “Labor force denotes the total number of population of a country” Do you agree with this statement?…

A: Meaning of Labor Force : Labor force means all those in the working age population of a country who…

Q: You have the following relationship between unemployment and GDP: u = 8.6 - 0.75(Y - 1000). If Y is…

A: According to the question, given that the relationship between the unemployment rate and GDP as U =…

Q: The working-age population is 24,500,000. Of these, 18,000,000 people had jobs. Of the remainder,…

A: People who are working are considered employed and people who are able and looking for a job are…

Q: Assume the total population is 3500. Of the total population, 1800 are working full-time. Of the…

A: Given information: Total population = 3500 Full time workers = 1800 Under 16 not working population…

Q: the difference between the ‘labor force participation rate’ (LPR) and the ‘employment-to-population…

A: Given Difference between the ‘labor force participation rate’ (LPR) and the…

Q: Q1: Consider the following labor statistics for adult population (age 16 and older) in Oman…

A: Solution - Part "1" Answer - Given in the question - Employed = 130 million Unemployed = 9 million…

Q: Calculate (to the nearest whole number) the unemployment rate for a country which has provided the…

A: Given informationPopulation = 50mWorking-age Population = 30mWorking people = 21mPeople willing to…

Q: In 2004, based on concepts similar to those used to estimate U.S. employment figures, the Italian…

A: Answer: Given, Adult-age population = 45.020 million Labor force = 24.065 million Number of people…

Q: Calculate the nominal wage rate Md=(.67Y-0.5r)P Ms=100 P= 0.96 Y=150 r= -6 Real…

A: A wage is the allocation of a benefit payable to a worker by an employer. Labor force is a…

Q: The BLS reported number of unemployment 14843000, civilian employed 139061000, unemployed 14843000.…

A: Unemployment rate is given as = (Number of unemployed/ total labor force)*100 Labor force is the…

Q: Data Analysis Unemployment and Inflation [1 Question] Monthly Unemployment 2014 – 2015 Year Jan…

A: Unemployment is a state of a person in which he/she is willing to do work but are unable to find…

Q: 34. The natural unemployment rate for a country is 6%. If the country's potential GDP is 55000 and…

A: Answer; 34) Option (e) None of the above is correct

Q: 17) Price indexes can overstate inflation because they A) omit some quality improvements. B) do not…

A: 17. Price index: - it is the measure of change in the price level, it measures the change in the…

Q: Question: In computing the consumer price index (CPI), a base year is chosen. Which of the…

A: The price index is described because the relative prices of products and services in a specific…

Q: Nominal Average Hourly Eamings $265 Year CPI (1982-1984 100) 1965 32 2010 2259 219 The table above…

A: Given Information: Year Nominal Average Hourly Earnings CPI 1965 $265 32 2010 $2259 219…

Q: Identify the difference between inflation rate and consumer price index(CPI).

A: Inflation rate is the percentage rise in the aggregate price level. The measures of inflation would…

Q: In 2020, the all ages population of Canada was 38092817, out of which the population under 15 years…

A: Introduction The labour force participation rate is a measure of how active a worker is in a given…

Q: Level of Education Number of Economically Active People (in millions) Number of Unemployed People…

A: The unemployment rate is the percentage of the total labor force that is unemployed but actively…

Q: Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year a) What is the…

A: The purchasing power measures the change in the value of the dollar to the consumer of goods and…

Q: Q-2 Compute the (a) Number of unemployed, (b) Unemployment-rate, (c) Population, and (d) Labor force…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: For a country in a given year, it applies that (the figures are given in thousands) The population…

A: The unemployment rate refers to the rate at which the country faces a problematic situation of…

Q: Explain how the Consumer Price Index (CPI) is calculated and critically evaluate its merits as a…

A: Inflation reflects how the general price level has moved during the given year. It is determined by…

Q: At the end of 1989, the consumer price index was 105. At the end of 1990, the CPI was 110. Calculate…

A: The inflation rate is the rise in the prices of goods and services over a period of time.

Q: Suppose that you work at a local food manufacturer and are given the task of investigating your…

A: Given; Seasonal sales averages:- Spring:- 39 Summer:- 46 Fall:- 30 Winter:- 21 Winter sales in…

Q: he world price of oil has risen recently. For Australia (which is a net exporter of oil), this…

A: CPI and GDP deflator are both indices that measure price levels.

Q: Numbers of people took survey 58 number reporting at least one hour per week of paid employment 22…

A: The labor force represents the segment of total population who are presently employed or seeking…

Q: A country with a population of eight million adults has five million employed, 500,000 unemployed,…

A: Unemployment rate refers to the percentage of labor force that is jobless.

Q: The deflation. is a statistic used to measure the pace of inflation or Multiple Choice O index of…

A: Inflation rate refers to rate which the average price level in an economy rise. If the inflation…

Q: Year 2010 2011 2012 2013 2014 2015 2016 2017 20 30 25 20 25 40 25 75 GNPN 200 450 300 300 1000 2000…

A: Gross national product is the value of all final goods and services produced by the national…

Q: In the country of Kong the labor force participation rate is 65%, the adult population is 161444 and…

A: The unemployment rate is defined as the number of unemployed out of total labor force in an economy.…

Q: • Let the base year used for calculating CPI be 2010. . CPI in 2019 equals 130. What nominal amount…

A: Consumer price index is the change in average price level of basket of goods . It shows the living…

Q: TheAustralianBureauofStatistics(ABS)reportedinMay2017thatthecivilian population in Australia over 15…

A: Australia’s total labor force = 13.5 million + 0.7 million…

Q: The Consumer Price Index (CPI) is currently published with a reference value of 100 for the years…

A: The consumer price index (CPI) is an indicator that measures the average change in prices paid by…

Q: Prepare a table and line graph showing the unemployment and economic growth rate for Grenada…

A: find below the explained answer.

Question

DO NOT COPY FROM OTHER WEBSITES

Upvote guarenteed for a correct and detailed answer. Thank you!!!

Calculate the labor force participation
rate and unemployment rate where a
country's total population is 43587458
and 10% of total population is under-
age, unemployment is 12% of working
age population and employment is 68%
of total population.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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.

Similar questions

What is frictional unemployment? Give examples of frictional unemployment.
If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
Are U.S. unemployment rates distributed evenly across the population?
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
Unemployment rates have been higher in many European countries in recent decades than in the United States. Is the main reason for this long-term difference in unemployment rates more likely to be cyclical unemployment or the natural rate of unemployment? Explain briefly.
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
Is the higher unemployment rates for minority workers necessarily an indication of discrimination? What could be some other reasons for the higher unemployment rate?
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the CPI to convert from nominal to real would be more appropriate man using the GDP deflate:
What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.
What forces create the natural rate of unemployment for an economy?