Population (working age).   240,000    Employed         180,000    Unemployed      30,000    Calculate:    Labor Force =    Unemployment rate =    Labor-force participation rate =    Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force.

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
icon
Related questions
Question

The country of Bada has collected the following information:

 

 Population (working age).   240,000 

 

Employed         180,000 

 

Unemployed      30,000 

 

Calculate: 

 

Labor Force = 

 

Unemployment rate =

 

 Labor-force participation rate =

 

 Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. 

 

Roger lost his job at the R-gone Manufacturing Company. Since then he has been trying to find a job at other local factories.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Unemployment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning