Directions: answer both problems. Demonstrate and prove your answers. Answer each question fullyusing definitions, and explanations.1.Using the table below|(1,000's)PopulationLabor ForceLabor Force2015 ParticipationEducation201020102015Rate< High SchoolHigh School30,900.013,500.013,905.033,800.014,280.07,725.030,000.050,000.052,000.032,500.0Associates Degree20,400.014,000.07,500.020,000.0Bachelors Degree10,000.010,300.0Population110,000.0113,600.0|(1,000's)U/E ratesUnemployedEmployedEmployed RatesEducation20102010201520102015201020152015< High SchoolHigh School15.0%18.0%8.0%12.0%2,600.04,064.8Associates Degree910.0928.2Bachelors Degree193.1187.5Population Using the table above calculate, the labor force, Labor force participation rates for eachа.groupb. Using the table above, calculate, the number of people employed, unemployed,unemployment rates and employment rates for each of the group above.Contrast and compare the groups, which group has the lowest unemployment rates, theC.highest participation rates? How does education play a role for each group as comparedto the population in general? Explain fullyIf the government could implement a policy, how could it improve the unemploymentd.rates for the nation or population as a whole? Explain fully. Include why this isimportant for Gross Domestic Product

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Directions: answer both problems. Demonstrate and prove your answers. Answer each question fully
using definitions, and explanations.
1.
Using the table below
|(1,000's)
Population
Labor Force
Labor Force
2015 Participation
Education
2010
2010
2015
Rate
< High School
High School
30,900.0
13,500.0
13,905.0
33,800.0
14,280.0
7,725.0
30,000.0
50,000.0
52,000.0
32,500.0
Associates Degree
20,400.0
14,000.0
7,500.0
20,000.0
Bachelors Degree
10,000.0
10,300.0
Population
110,000.0
113,600.0
|(1,000's)
U/E rates
Unemployed
Employed
Employed Rates
Education
2010
2010
2015
2010
2015
2010
2015
2015
< High School
High School
15.0%
18.0%
8.0%
12.0%
2,600.0
4,064.8
Associates Degree
910.0
928.2
Bachelors Degree
193.1
187.5
Population
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Directions: answer both problems. Demonstrate and prove your answers. Answer each question fully using definitions, and explanations. 1. Using the table below |(1,000's) Population Labor Force Labor Force 2015 Participation Education 2010 2010 2015 Rate < High School High School 30,900.0 13,500.0 13,905.0 33,800.0 14,280.0 7,725.0 30,000.0 50,000.0 52,000.0 32,500.0 Associates Degree 20,400.0 14,000.0 7,500.0 20,000.0 Bachelors Degree 10,000.0 10,300.0 Population 110,000.0 113,600.0 |(1,000's) U/E rates Unemployed Employed Employed Rates Education 2010 2010 2015 2010 2015 2010 2015 2015 < High School High School 15.0% 18.0% 8.0% 12.0% 2,600.0 4,064.8 Associates Degree 910.0 928.2 Bachelors Degree 193.1 187.5 Population

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Using the table above calculate, the labor force, Labor force participation rates for each
а.
group
b. Using the table above, calculate, the number of people employed, unemployed,
unemployment rates and employment rates for each of the group above.
Contrast and compare the groups, which group has the lowest unemployment rates, the
C.
highest participation rates? How does education play a role for each group as compared
to the population in general? Explain fully
If the government could implement a policy, how could it improve the unemployment
d.
rates for the nation or population as a whole? Explain fully. Include why this is
important for Gross Domestic Product
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Using the table above calculate, the labor force, Labor force participation rates for each а. group b. Using the table above, calculate, the number of people employed, unemployed, unemployment rates and employment rates for each of the group above. Contrast and compare the groups, which group has the lowest unemployment rates, the C. highest participation rates? How does education play a role for each group as compared to the population in general? Explain fully If the government could implement a policy, how could it improve the unemployment d. rates for the nation or population as a whole? Explain fully. Include why this is important for Gross Domestic Product

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Expert Answer

Step 1

a.

Labor force is the number of people who are in working age and are able to work in the economy. The labor force would thus include both those who are employed as well as unemployed in the economy. The labor force can be calculated by summating the values of labor with different educational qualifications for each of the given year. The labor force for year 2010 can be calculated as follows:

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Labor High school Labor '<High school Labor "Assocoates degree =13,500+32,500+14,000 +7,500 Labor force 2010 +Labor, 'Bachelors degree =67,500

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Step 2

Similarly, the labor force of the year 2015 can be calculated as follows:

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Labor High school Labor '<High school Labor "Assocoates degree +Labor Labor force 2015 Bachelors degree) 13,905+33,800 +14,280+7,725 69,710

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Step 3

The labor force participation rate is the measure of economy’s active labor force. It can be calculated by dividing the labor force with the t...

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Labor forcelHigh school 100 labor force participation4Hh school PopulationHigh school 13,500 -x100 30,000 = 45

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