Most American workers _________ are employed in the service-producing sector. are employed in the agricultural sector. are employed in the goods-producing sector. are employed by government.
Q: Identify the following variables as more variable than GDP or less variable than GDP: (1)…
A: In an economy, different variables are influenced by market condition in different ways and in…
Q: labor force participation rate
A: Labor force participation rate = [(Number of employed people + Number of unemployed people) / Non…
Q: The number of people classified as employed is 390,000 and the number of people classified as…
A: Labor force is the combination of people who are employed and the unemployed who are actively…
Q: In 2016 what percentage of the labor force was employed? what percentage of the labor force was…
A:
Q: Canada has a working age population of 20 million. Of those 11 million are employed and 1 are…
A: Given: Working age population = 20 million Employed people = 11 million Unemployed people = 1…
Q: GDP: Group of answer choices is a less-than-perfect measure of social well-being because it does not…
A: Gross domestic product is the output produced in the country. It gives national income.
Q: If a country has a working-age population of 200 million, for which 135 million people with jobs, 10…
A: Labor force is the sum of people employed and unemployed. Labor force = employed + unemployed
Q: Explain what a constant labor share of national income implies about the relationship between the…
A: Labor productivity is an idea used to gauge the laborer's effectiveness. It is determined as the…
Q: Who are generally counted in the labour force of a country
A: While it is an established fact that capital and resources are integral to the growth and…
Q: Factor income from abroad is ____________. a. Included in the GDP b. Not included in the GDP c.…
A: Answer: b. Not included in the GDP Factor income from abroad is not included in the components of…
Q: Individuals leave the labour force when they: (a) find employment. (b) become unemployed. (c)…
A: Unemployment has been a major concern for most of the economies across the world. The spread of the…
Q: Relationship between labor productivity and wages What is the largest component of GDP? Differences…
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…
Q: Unemployment Type Structural Frictional Cyclical Simone just graduated from college and is looking…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: In Country X, the population is 100 million, 60 million people are employed, 5 million are not…
A: Labor force is the sum of employed and unemployed who is actively looking for work.
Q: According to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6…
A: In an economy, people who are the part of working age population but do not have any work and are…
Q: Which of the following is not in the labor force? Retired Persons Those Unemployed…
A: In an economy, the labor force differs from the working-age population as the labor force is a part…
Q: The most common indicator in the labour market is unemployment rate. GDP. recessions. inflation.
A: Question 2 will be answered. To understand the labor market, we should see how many people looking…
Q: Unemployment Type Structural Frictional Cyclical Simone just graduated from college and is looking…
A: 1. Frictional unemployment:- The consequence of voluntary job transfers within an economy is…
Q: the real wage rate is defined as the wage rate divided by a. nominal GDP. b. the money supply. C.…
A: The real wage means what the nominal wage can buy.
Q: Actual GDP in a country is $100 billion and potential GDP is $150 billion. Prices are virtually…
A: According to question, The current GDP is $100 billion, while the potential GDP is $150 billion.…
Q: The unemployed are those people who do not have jobs. are not employed but are seeking work are not…
A: (Q1)The unemployed are those people who a. do not have jobs. b. are not employed but are seeking…
Q: Item Value (thousands of persons) Unemployed 11,777 Employed 145,407 Not in labor force 108,773…
A: Civilian labour includes individuals which are either employed or unemployed. Retired and military…
Q: What is the fundamental difference between real and nominal GDP A.) Both real and nominal GDP…
A: GDP is the value of goods and services produced in the economy.
Q: Anna recently graduated from college with a degree in electrical engineering, but she has not yet…
A: If someone does not look for work for any amount of time,then that person would be counted as…
Q: The manufacturing sector is considered as one of the major sources of substantial employment…
A: In developing countries the manufacturing sector growth depends on a range of exploratory variables…
Q: Explain how a severe drought in a country, whose main activity is agriculture, can affect: The…
A: Gross Domestic Product GDP is the monetary value of all finished goods and services made within a…
Q: Total Civilian Population= 340 million Employed Workers= 123 million People not looking for work=…
A: The unemployment rate refers to the people who are willing to work and are actively looking for…
Q: 1. Real GDP is GDP adjusted to inflation. A) True B) False 2. Unemployment rate is the percentage of…
A: The macroeconomic concepts and variables differ largely depending upon the major aspects of the…
Q: Retired people who are still capable of working are: check all that apply unemployed not part of the…
A: Retired people who are still capable of working would be classified under 1)Unemployed Because they…
Q: Which statement is CORRECT? Any person who can work and is of working age is considered part of the…
A: GDP is measured with the aid of using taking the portions of all items and offerings produced,…
Q: All of these are measures of national income, except _____. a. Net Labor force b. GDP c. Net…
A: In an economy, national income is calculated using different measures in different terms based on…
Q: The total population of a country is 7658 million people. 2019 million people are employed, 1550…
A: Total Population = 7658 Number of employed people = 2019. and unemployed people = 1550 Number of…
Q: What is the industrial transformation for the Home Country?
A: Given total labor force in 2015 = 75000 Total labor force in 2016 = 150,000
Q: Consider the following simple economy that produces only three goods: 2009…
A: GDP is a macroeconomic measure of the aggregate total production of output in an economy. It can be…
Q: The economy of Naboo has a population of 10 million people, of which 7 million are in the labour…
A: The unemployment rate refers to the fraction of the labor force in an economy that is not employed.…
Q: Assume the following information about the economy: Total population 800000 Total civilian…
A: unemployment rate is the rate which represent the share of workers in the labor force who do not…
Q: GDP is equivalent to: Consumption Price Level Inflation Investment Real Income
A: The GDP measures the total spending on final durable goods and non-durable goods, and services…
Q: Q22 MCQ Inflation is an increase in: a) the price of one item b) the average price level c) the…
A: Macroeconomics: The term macroeconomics refers to the situation of economic and scarcity problems…
Q: Clarify statement: "Economic growth, when accounting for inflation, is the increase or improvement…
A: Real GDP = Nominal GDP - Inflation
Q: The gig economy offers the total availability of employment and labor in the economy. Flexible,…
A: The gig economy offers job opportunities to the freelancers.
Q: Net domestic product (NDP) is determined by
A: Net domestic product (NDP) is the final net value of all the products and services that are produced…
Q: A new college grad is searching for a job but has not yet found one. b)Due to declining sales, a…
A: Unemployment refers to a situation when willing and able people experience lack of work opportunity.…
Q: Complete the right half of the following equation to reflect the labor force participation rate…
A: The labor force consists of a number of people who are employed and those who are unemployed but…
Most American workers _________
are employed in the service-producing sector.
are employed in the agricultural sector.
are employed in the goods-producing sector.
are employed by government.
The four different sectors in an economy are primary (agricultural sector), secondary (manufacturing sector), tertiary (service producing sector) and quarternary sector.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Suppose there are 4,750 people in the labor force. 420 workers are employed full time but were unemployed last month. Additionally, 198 workers had jobs last month but were laid off and have not found work yet. 124 workers lack skills that employers desire and have not been working for months; they are looking for jobs, though. 159 people are not working due to an overall decline in the economy and 194 workers are not working during this season. 188 workers quit their job and have not found a new one yet. Finally, 830 workers are working part time but would like full time work. Based on this information, calculate the natural unemployment rate. Hint: Again, there are no discouraged workers in this example; all unemployed workers are looking for work. Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13. Be careful, the information presented here looks similar to a previous…Actual GDP in a country is $100 billion and potential GDP is $150 billion. Prices are virtually unchanged from one year ago. Unemployment is 12 percent of the civilian work force, much higher than it has been in many years. Which of the following policies would be the most appropriate for improving these economic conditions?In 2016 what percentage of the labor force was employed? what percentage of the labor force was unemployed? what percentage of the total population was employed?
- America's gross domestic product-the total value of all goods and services produced here-is volatile because of immigrant workers. unchanged under the impact of immigrant workers. larger because of immigrant workers. smaller because of immigrant workers.Assume that there are three industries in the Home country: industry A, industry B and industry C. Total labour force of the Home Country in the year 2015 was 75,000. 25,000 of this labour force were employed in industry A, 25,000 of it were employed in industry B, and the rest were employed in industry C. In year 2016, total labour force was 150,000. This time 50,000 were employed in industry A, 50,000 were employed in industry B and the remaining workers were employed in industry C. What is the industrial transformation for the Home Country? (a)0. (b)1/2. (c)1/6. (d)4/15. Show your calculation and explain it. Limit your explanation to 200 words.You are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct? a. There are 2.5 million unemployed in this country. b. The unemployment rate is approximately 8%. c. The employment rate is approximately 88%. d. The participation rate is approximately 67%.
- Individuals leave the labour force when they:(a)find employment.(b)become unemployed.(c)retire.(d)work in the informal sectorSuppose that the county of Bigu has a population of 127 million, of which 83 million are in the working-age population. OF those, 25 million are not in the labor force and 52 million are employed. A. Calculate the working-age population as a percentage of the population B. Calculate the labor force participation rate C. Calculate the unemployment rate.Describe the following term: "Unemployment". Is it: Inflation Price Level National Income none of these One component of National Income
- Total Civilian Population= 340 million Employed Workers= 123 million People not looking for work= 48 million People incapable of work= 23 million. Calculate the unemployment rate.Explain 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 indexGDP is equivalent to: Consumption Price Level Inflation Investment Real Income
