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- Population: 250 million Working-age population: 192 millionLabor Force: 120 million Number of people Employed: 114 million The unemployment rate for this economy is____________ %, and the labor force participation rate for this economy is___________ %.What is labor force a- the toal employment divided by the total number of unemployment b- the total number of employment c- the sum of emplou]\yment and uneemployment d- the sum of employment minus the sum of unemploymentExplain how a severe drought in a country, whose main activity is agriculture, can affect: The gross domestic product of that country Unemployment rateThe agricultural product price index
- Last year a movie ticket cost $10. Now a movie ticket cost $12. Which of the following best describes this economic condition? deflation inflation stagflation hyper-inflation9. The labor force participation rate is:A. The ratio of employees to the working-age populationB. The ratio of employees and the unemployed to the working-age populationC. The ratio of employees and the unemployed to the populationD. Usually lower than the employment rateDuring 2008-2009, the U.S. economy suffered a 3.1% cumulative loss of GDP, which is equivalent to a loss of A,B,C, OR D ONE ANSWER A 50% of the unemployment rate. B inflation. C one year’s average growth of GDP. D deflation.
- What is seigniorage ? a The taxes levied on the individual old b The usage of the total money supplied as government revenue c The usage of newly printed money as government revenue d The taxes levied on the individual youngWhat happens if the number of unemployed is unchanged, but the number of employed persons increases? *The labor force decreasesThe unemployment rate increasesThe unemployment rate decreasedThe labor force increasesWhen a nominal value increases it must be true that prices have increased. Select one: True False
- A survey reveals that on a small island 40 people have jobs, 10 people are looking for jobs, and 30 people are neither working nor looking for work. The unemployment rate on the island is:a.25%.b.50%.c.20%.d.12.5%.An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have one part-time job, 5 have two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children. a) Calculate the size of the labor force and the labor-force participation rate. b) Calculate the number of unemployed and the unemployment rate. c) Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.Describe the following term: "Unemployment". Is it: Inflation Price Level National Income none of these One component of National Income