Answered: If the number of people employed is…

If the number of people employed is 150,000 and the labor force is 170,000, the unemployment rate is Select one: a. 6.25%. b. 11.76%. c. 6.55%. d. 2.5%

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 5SQ

See similar textbooks

Related questions

Q: 22. In a country with a population of 50 million people, there are 20 million children under the age…

A: Hi Student, thanks for posting the question. As per the guideline we are providing answers for the…

Q: If the population of a country is 600,000 people, it's labor force consists of 400,000, and 20,000…

A: The unemployment rate is the rate that shows the proportion of unemployed people in the total labor…

Q: Of the following, which is the best example of cyclical unemployment? Select one: O A. A…

A: Answer: Correct option: D 9None of the above) Explanation: Cyclical unemployment is caused due to…

Q: To be classified as unemployed, a person must be at least 16 years old and trying to find a job…

A: By definition, an unemployed is classified as a person currently available for work and actively…

Q: 7. Assuming the total population is 100 million, the civilian labor force is 60 million, and 54…

A: Q7) Given Total population = 100 million. Civillian labour force = 60 million. 54 million are…

Q: What is the unemployment rate if there are 150 million people employed, 25 million people…

A: Unemployed are those who falls in working age bracket, are able and willing to work and actively…

Q: Craigburg has a working age population of 20 million. Of those, 11 million are employed and 1…

A: Given: Working age population = 20 million Employed people = 11 million Unemployed people = 1…

Q: Consider an economy made up of a 100 people, 50 of whom hold jobs, 10 of whom are looking for work…

A: The unemployment is a situation in which the people in the economy are willing to offer their labor…

Q: The unemployment rate statistic published by the Bureau of Labor Statistics may underestimate the…

A: People who are able and willing to work, and actively for a job are considered unemployed.

Q: John does not currently have a job. He most recently looked for a job 6 months ago. He has not…

A: Here John not looking for a job so it can be fall under U-4 ,U-5 and U-6. so here John consider as…

Q: Suppose there are 50 million persons in the population, 25 million persons in the civilian labor…

A: unemployment meaning person willing to work but dont have here we calculate the unemployed…

Q: Please answer both components; thank you! 1. Explain why “full employment" does not mean 0%…

A: 1. Full employment is the situation in which the economy experiences the lack of involuntary…

Q: Suppose that the unemployment rate is 10%, the total working age population is 100 million, and the…

A: Number of Employed worker = Labour Force - Number of unemployed. Given Unemployment Rate = 10%…

Q: Q)The natural rate of unemployment is the frictional rate that exists in every economy when people…

A: The unemployment rate is the important indicator which would measure the rate of unemployed people…

Q: Suppose the town of Boone has a total population of 60,000 people. Of those, 56,000 people are…

A: According to the question, given that the total population of Boon city is 60,000, while there are…

Q: Discuss the four types of unemployment. Rank these from the least serious to the most serious and…

A: The most serious type of unemployment includes structural unemployment, frictional unemployment,…

Q: list four type of unemployment and provide one relevant example for each type of unemployment

A: Unemployment is an economic problem that occurs when people who are able and willing to work fail to…

Q: If total population of a country is 60000 people and 35000 people are in the Labour force and 32000…

A: Given: The total population of a country is = 60,000 The people who are in the labor force =…

Q: There is still unemployment rate of 3% even though the economy is at full employment. This is…

A: Full employment refers to an economic situation in which all available labour resources are used as…

Q: Describe why this is so.

A: Frictional unemployment is caused when people are switching their jobs and it depends on the age…

Q: What is the unemployment rate when the number of unemployed = 170,000; labour force = 5,000,000 and…

A: Labor force refers to the total number of employed and unemployed able and willing to work.…

Q: Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment…

A: Hidden unemployment includes those individuals people who are either underemployed or are…

Q: f the number of people in the labor force is 170 million and 155 million people are employed, then…

A: labor force = employed + unemployed thus unemployed= 170-155 mn = 15 million

Q: Q.1.4 Out of 20 million people in the population, 9 million people are in the labour force and 3…

A: Unemployment rate refers to the percentage of unemployed people to the total labor force.…

Q: Q.4 The country of Far Far Far Away has a working-age population of 36 905 people. The labour force…

A: The labor force involves employed people and unemployed people. Employed people are the person who…

Q: Country A has a total population of 100 million, of which 80 percent are adults (and hence are…

A: Unemployment refers to a situation where an individual in the working-age population, who is…

Q: When the real wage decline, it must be the case that a. Nominal wage is declining b. Real wage is…

A: Wage: - In economics wage is the factor income or monetary reward received for the supply of labor.

Q: population is 6 million, the number of employed is 3.8 million, and the labor force participation…

A: Answer (A) The population is 6 million. The number of employed is 3.8 million. Labor force…

Q: 29. What is the unemployment rate when the number of unemployed = 125,000; labour force = 5,000,000…

A: )29) What is the unemployment rate when the number of unemployed = 125,000; labour force = 5,000,000…

Q: Suppose some country had an adult population of about 25 million, a labor-force participation rate…

A: Unemployment refers the no. of people who are willing to work at existing wage rate but are unable…

Q: Real output in an economy grows by 1.5% but at the same time the level of unemployment increases. 8.…

A: Real output is the market value of all final goods and services produced in the economy in the given…

Q: Suppose the town of Boone has a total population of 50,000 people. Of those, 45,000 people are…

A: Total Population = 50000 peopleEmployed = 45000 peopleStudents = 1000 peopleTherefore, people who…

Q: Explain just two type of unemployment by giving examples

A: The economy mainly faces some type of unemployment can be listed as follows. Structural…

Q: Suppose that the current GDP is 6% higher than its potential. What is the effect of this situation…

A: Okun's law states the relationship between the economy's growth rate and unemployment rate.

Q: If a discouraged worker reenters the labor force and begins searching for jobs but doesn't find one,…

A: Labor force is the sum of the employed people and unemployed people who are actively seeking for job…

Q: Which one of the following variables in pro- cylical? (a) the unemployment rate (b) the job-finding…

A: A positive correlation between the value of a good, a service, or an economic indicator and the…

Q: Give a clear definition of unemployment and how and why it rises and declines in the economy.

A: Unemployment occurs in an economy when the workers who are willing and able to work cannot find…

Q: n a given community, the unemployment rate is 3.1% and their working-age population is 1.2 Million.…

A: The unemployment rate indicates the fraction of the total labor force that is unemployed. The labor…

Question

If the number of people employed is 150,000 and the labor force is
170,000, the unemployment rate is
Select one:
a. 6.25%.
b. 11.76%.
c. 6.55%.
d. 2.5%

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

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

If the number of people classified as unemployed is 20,000 and the number of people classified as employed is 230,000, what is the unemployment rate? a) 8.7% b) 9.5% c) 8% d) 11.5%
Suppose that a country's population is 30 million and it has a labour force of 15 million people. If 14.5 million people are employed, the country's unemployment rate is a. 3.3%. b. 2.5%. c. 6.7%. d. 9.0%. e. 4.5%.
Suppose that the unemployment rate is 10%, the total working age population is 100 million, and the number of unemployed is 7.5 million. Determine the number of employed workers
Suppose that in a population of 200 million persons, 150 million are in the labor force and 120 million are employed. Then the unemployment rate for this economy is: A) 20 percent B) 40 percent C) 60 percent D) 80 percent
Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate? 6.7%9.5%10.5%28%
The BLS reported that in June 2019, the labor force was 163.0 million, employment was 157.0 million, and the working-age population was 259.1 million. The BLS also reported that 17.3 percent of all employment in June 2019 was part time and that 4.3 million people worked part time for economic reasons. How many people worked part time for noneconomic reasons?
Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent.a. What is the size of the labor force?b. How many people are unemployed?c. What is the size of the working-age population?
Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?
Suppose that the labor force in 2008 was 154.3 million and unemployment was 8.9 million. What was the unemployment rate in 2008?A 0.058%B 10.2%C 5.8%D 9.3%
Q.4 The country of Far Far Far Away has a working-age population of 36 905 people. The labour force is 21 849 and the employment rate is 73.54%. There are 2 292 discouraged workers while a further 12 763 are not economically active for other reasons. Based on the information above, the strict unemployment rate is closest to A. 27.7% B. 24.6% C. 41.6% D. 16.0% E. 26.5%
If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals: a)32%. b)25%. c)20%. d)8%.
Suppose population increases by 1%, labor force increases by 3%, number of unemployedpersons increases by 2%. Compute the percentage changes in a. the labor force participationrate, b. the unemployment rate.