Country A's labor market displays the following data: Working age population: 10000 Labor Force: 7000 Unemployed: 1000 Vacancies: 800 What is the employment to population ratio? If your answer is - for example - 0.467, i.e. 46.7%, report 0.467 (3 decimals)
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- TheAustralianBureauofStatistics(ABS)reportedinMay2017thatthecivilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in AustraliaUsing the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (c) suppose that 20,000of tghe employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not workingnand not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unnemployment rate. (d) Illustrate and carefully explain the impact of an increase in the…QUESTION TWORecently, the government of the republic of Zambia conducted a 2022 Census of Population and Housing. From the summary results, Zamstats indicated that the 2022 Zambian population is 19,610,769. Assume that 35% of the population are not in the labour force. Suppose also that from those in the labour force, 40% are employed. Determine the total number of people who are;a) not in the labour force.b) in the labour force.c) employed.d) unemployed.
- The labor force participation rate shows the percentage of thelabor force that has a job. labor force that is unemployed. relevant population that is employed. relevant population that is in the labor force.the labor force population rate measures the percentage of people in the labor force who have a job. true of flase1. A study published in 1993 used US state panel data to investigate the relationshipbetween minimum wage and the employment of teenagers. The sample period was1977 to 1989 for all 50 states. The author estimated a model of the following type:ln(Eit) = β0 + β1ln(Mit/Wit) + γ2D2i + ... + γnD50i + δ2B2t + ... + δTB13t + uitwhere E is the employment to population ratio of teenagers, M is the nominalminimum wage, and W is average hourly earnings in manufacturing. In addition,other explanatory variables, such as the adult unemployment rate, the teenagepopulation share, and the teenage enrollment rate in school, were included.(a) Name some of the factors that might be picked up by time and state fixedeffects(b) The author decided to use eight regional dummy variables instead of the 49state dummy variables. What is the implicit assumption made by the author?Could you test for its validity? How?(c) The results, using time and region fixed effects only, were as follows:ˆ ln(EIT ) =…
- Workers Bracelets MPLMPL 0 0 --- 1 7 7 2 * 28 3 53 18 4 * 6 5 * 0 Betsy's Bangles produces and sells woven bracelets. The table shows information about the number of workers employed, daily bracelet production, and the marginal product of labor (MPL)(MPL) . Use this to answer the questions. You must calculate the bracelet values that are absent to answer the question. How many bracelets can be produced by 5 workers? bracelets from 5 workers: braceletsbracelets Between which levels of bracelet production does Betsy's firm experience increasing marginal returns and diminishing marginal returns? a. There is insufficient information to answer the question. b. Marginal returns increase from 0 to 7 bracelets then diminish from 35 to 59 bracelets. c. Marginal returns increase from 35 to 59 bracelets then diminish from 59 to 59 bracelets. d. Marginal returns increase from 0 to 35 bracelets, then diminish from 53 to 59 bracelets.Supoose 550 people were surveyed and of those 550, 450 were working full time. of the 100 ot working, 20 were full time collge students, 30 were retired, 10 were under 16 years of age, 15 had stopped looking for work because they believe there were no jobs for them and 25 were actively looking for work. 1. How many of the 550 surveyed are in the labour force? 2. what is the unemployment rate among the 550 sruveyed people?Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force? d. What additional information would you need to know to determine if the fourth respondent is in the labour force? e. What is the labour force participation rate if everyone but the fourth respondent is in the labour force?
- Question 1 Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011. Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 Use the information given to calculate the following: (d) Not in the labour force (e) Working age population ratioQuestion C only- what is the labor force participation rate of Macroland for people between the ages of 18-65 in January.Civilian Employment = 157722 Unemployment = 6270 Not in Labor Force = 99333 Use the values above to solve the Working-Age Population. Working-Age population = ? Please explain the steps involved. Thank you!