PopulationEmployedStructurally UnemployedFrictionally UnemployedCyclically Unemployed1,500,000750,00025,00025,00050,0001,000,000Non-institutionalizedAdults22. Using the table above calculate the unemployment rateа. 5.6%b. 6.5%C. 7.1%d. 9.8%e. 11.8%23. Using the table above calculate the labor force participation ratea. 60%b. 70%C.80%d. 90%е.100%24. The amount of output that is not captured in the production function is considereda. unreconcilableb. total factor productivity

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Population Employed Structurally Unemployed Frictionally Unemployed Cyclically Unemployed 1,500,000 750,000 25,000 25,000 50,000 Non-institutionalized 1,000,000 Adults 22. Using the table above calculate the unemployment rate a. 5.6% b. 6.5% C. 7.1% d. 9.8% е. 11.8% 23. Using the table above calculate the labor force participation rate а. 60% b. 70% с. 80% d. 90% е. 100% 24. The amount of output that is not captured in the production function is considered a. unreconcilable b. total factor productivity

Population Employed Structurally Unemployed Frictionally Unemployed Cyclically Unemployed 1,500,000 750,000 25,000 25,000 50,000 Non-institutionalized 1,000,000 Adults 22. Using the table above calculate the unemployment rate a. 5.6% b. 6.5% C. 7.1% d. 9.8% е. 11.8% 23. Using the table above calculate the labor force participation rate а. 60% b. 70% с. 80% d. 90% е. 100% 24. The amount of output that is not captured in the production function is considered a. unreconcilable b. total factor productivity

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 6WNG

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Similar questions

What criteria do the BLS use to count someone as employed? As unemployed?
Are U.S. unemployment rates distributed evenly across the population?
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
What is frictional unemployment? Give examples of frictional unemployment.
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
What is structural unemployment? Give examples of structural unemployment.