ook WAP Employment Unemployment Unemployment rate 2.23% 2,190, 348 Labor force Labor force participation rate 76.55% Employed + Unemployed = Labor Force Unemployment Rate = unemployed LF LF participation Rate = LF WAP x 100 x 100
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- Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.TheAustralianBureauofStatistics(ABS)reportedinMay2017thatthecivilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in AustraliaThe labor force participation rate shows the percentage of thelabor force that has a job. labor force that is unemployed. relevant population that is employed. relevant population that is in the labor force.
- Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75. a. What was the percentage decline in nominal NNP from 1929 to1933?b. What was the percentage decline in real NNP from 1929 to 1933? Show your work.a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…If 42 percent of all people working in the UnitedStates are baby boomers, how many were working in2008? If 15 percent of the baby boomers retire in 10years, how many jobs will this represent from 2008employment? Use employment information from thelesson to make the calculations.
- What is comovement? How is comovement related tothe business cycle facts presented in this chapter?Labor Force Characteristics : ( Compute: Population; LFPR; Unemployed; Unemployment rate; Employed; Employment rate; Underemployment rate) The Tuwid na Daan has a labor force of 65M , and those who are out of work is 35M. Break down of those who are institutionalised are as follows: Retirees 5M; below 15 years old 10M; Disabled 5M; and currently enrolled 5M. The Tuwid na Daan government is happy to announce that the number of people working exceeds the number of people looking for work. Although there are 8M working on a job where their skills are higher than necessary. The Tuwid na daan government needs your help, to visualize the economy’s present condition in order to prepare for the future.If nominal GNP through expenditure approach is $10000 and real GNP is $10000. Find the GNP deflator.
- Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?Interpret the following results with (UR) uemployment rate as dependent variable and (INF) inflation as the independent variable.a country has the following nominal GNP and output data: If the base year is determined as 20I1, then: a. Calculate data on prices, real GNP, Price Index, Inflation Rate, and Economic Growth Ratevfrom 2010 to 2014! b. Give the conclusion from the calculation of your Economic Growth Rate!