Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force?

Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....

See similar textbooks

Similar questions

If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
What is frictional unemployment? Give examples of frictional unemployment.
As the baby boom generation retires, the ratio of retirees to workers will increase noticeably. How will this affect the Social Security program? How will this affect the standard of living of the average American?
Supoose 550 people were surveyed and of those 550, 450 were working full time. of the 100 ot working, 20 were full time collge students, 30 were retired, 10 were under 16 years of age, 15 had stopped looking for work because they believe there were no jobs for them and 25 were actively looking for work. 1. How many of the 550 surveyed are in the labour force? 2. what is the unemployment rate among the 550 sruveyed people?
Define and explain the unemployment rate and why is it used to gauge economic health.
(a) The table below shows the average wages in Kwachas per week of a group of industrial workers during the year 1989-1996. The consumer price Index for the years with 1989 as base are shown below. Year Average wage of workers (K) Consumer Price Index 1989 1990 1991 1992 1993 1994 1995 1996 119 133 144 157 175 184 189 194 100 107.6 106.6 107.6 116.2 118.9 119.8 120.2 i. Determine the real wages of workers during the year 1989-1996 as compared with their wages in 1989. ii. Determine the purchasing power of a Kwacha for the year 1996 as compared to the year 1989. What is the significance of this result?
Asurvey of 200,000 people finds 76,300 "employed," 6,640"unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers? a. 8.7percent b. 3.3 percent c. 8.0 percent d. 5.7 percent
What is labor force a- the total; of employment divided by the total nimber of unemployment b- the total of employment and unemployment c-the sum of employment and unemployment d- the sum of employment minus the sum of unemployment
6 The population of a country is 8.6 million and the labor force is 3.1 million. What will be the Labor Force Participation Rate? Select one: a. 277.42 b. 36.05 c. 863.10 d. -856.90 e. None of these
“The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemiclevels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not theaddition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The numberof unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently,they were no longer counted as unemployed.”Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703-2022-02-21Accessed: 21/02/22 1. The unemployment figure presented here is the… a) Seasonal unemployment.b) Narrow definition.c) Expanded definition.d) Real unemployment. 2. Demand-pull inflation can occur when…a) There is a shortage of investment and investors bid up interest rates.b) Inventories shrink and consumers bid up prices.c) There is a surplus of resources and so wages are bid up by employers.d) Undesired investment occurs. 3.…
14% of working age adults are out of the labor force. What could be the real percent of adults who want to work and are not working? a) 14% b) 19% c) 10% d) All of these could be true e) None of these could be true
Give 4 possible reasons of the correlation between immigration and decreased of unemployment rates?