If a country has a working-age population of 200 million, for which 135 million people with jobs, 10 million people who are looking for a job but have given up, and 5 million people unemployed and seeking employment, then its labor force is: a. 150 million b. 145 million c. 140 million d. 135 million
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- If the labor force increased to 180 million and the working-age population increased to 300 million what would the labor force participation be? ____ percent.The following information is given for an economy: Labor Force of an Economy Number of People (millions) Total population 46.5 Children under the age of 16 8.5 Retirees 7.8 Employed 23.9 Unemployed 2.5 Not actively seeking employment 3.0 Homemakers 0.8 Instructions: Round your answers to one decimal place.…During times of low employment, some people get discouraged, stop looking for work, and go back to school. How does going back to school affect the labor force? A. It does not change the labor force B. It increases the number in the labor force C. It decreases the number in the labor force
- the ______ population = 200 million, the labor= 160 million, and employment= 140 million c) Starting from the situation in (a), what would happen to the labor force participation rate if 30 million people lost their jobs and all of them exited the labor force? d) Starting from the situation in (a), what would happen to the labor force participation rate if employment rose from 140 million to 150 million?Economists use labour-market data to evaluate how well an economy is using its most valuable resource— its people. Two closely watched statistics are the unemployment rate and the employment-population ratio. Explain what happens to each of these in the following scenarios. In your opinion, which statistic is the more meaningful gauge of how well the economy is doing? a. An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. b. After an unsuccessful search, some of the laid-off workers quit looking for new jobs. c. Numerous students graduate from college but cannot find work. d. Numerous students graduate from college and immediately begin new jobs. e. A stock market boom induces newly enriched 60-year-old workers to take early retirement. f. Advances in healthcare prolong the life of many retireesIf the labor force participation increases, explain how employment, the real wage rate, and potential GDP change.
- If 6.2% of the 210 million adult Americans are unemployed, how many adult Americans are unemployedSuppose the labor force stays constant, and the working population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will A. not change in way that can be predicted. B. remain constant. C. decrease. D. increase.Suppose the number of employed people in Pakistan is 20.5 million. The unemployment rate in this economy is 8.8 percent, and the labor force participation rate is 65 percent. i. What is the size of the labor force and working-age population?ii. How many people are unemployed?
- Suppose some country had an adult population of about 50 million, a labor-force participation rate of 65 percent, and an unemployment rate of 5 percent. How many people were employed? a. 1.5 million b. 28.5 million c. 30.9 million d. 47.5 millionSuppose the unemployment rate was 7.4 percent, far above the full-employment threshold (= 5 percent). Instructions: In part a, round your response to two decimal places. In parts b–c, enter your responses as a whole number. a. How many jobs were lost, as a result, in a labor force of 150 million? b. If the average worker produces $100,000 of output, how much output will be lost? c. By how much did GDP per capita decline as a result (310 million people)?Suppose 35 000 000 people are in the labour force, 18 000 000 people are employed in the public sector and 15 000 000 people are employed in the private sector. How many people are unemployed?
