Q.1.4 Out of 20 million people in the population, 9 million people are in the labour force and 3 million are unemployed, therefore the unemployment rate is: choose the correct answer (2) (a) 3 percent. (b) 15 percent. (c) 30 percent. (d) 33,3 percent.

Q.1.4 Out of 20 million people in the population, 9 million people are in the labour force and 3 million are unemployed, therefore the unemployment rate is: choose the correct answer (2) (a) 3 percent. (b) 15 percent. (c) 30 percent. (d) 33,3 percent.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 4SQ

See similar textbooks

Related questions

Q: If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then the…

A: The unemployed are those who are out of work and who are actively looking for a job. We can…

Q: 10. Unemployment benefits usually last for 26 weeks; however, the federal government can vote to…

A: The economics as a study is based upon the basic idea of scarcity, and the resources which are…

Q: f you are a volunteer you are considered Unemployed

A: The rate of unemployment is the number of unemployed persons divided by the total labour force where…

Q: To be classified as unemployed, a person must be at least 16 years old and trying to find a job…

A: By definition, an unemployed is classified as a person currently available for work and actively…

Q: Qlb. Consider two companies manufacturing tablets. One relies on workers on an assembly line and…

A: Recession:- Whenever there is a significant fall in business activity, there seems to be a…

Q: Does a downturn in the economy hurt all companiesequally? Provide several examples to support your…

A: An economic downturn is a period of plummeting business activity during which the economy contracts…

Q: In a country with population of 50 million people, there are 20 million children under age of 15, 16…

A: The unemployment rate is given as = Number of unemployed/ Total labor force The labor force consists…

Q: The opportunity cost of receiving RM10 in the future as opposed to getting that RM10 today is…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: The population of Ectenia is 100 people:40 work full-time, 20 work half time but would prefer to…

A: Unemployment is referred to as when an individual is actively searching for employment but is unable…

Q: country has a total population of 500 people. Of those, 50 are under the age of 16 or…

A: Unemployment rate is the percentage of labor force that is willing and looking for a job. Labor…

Q: A full-time job usually requires less than 40 hours of work per week. True or false

A: The economy would consist of the total population which consist of the employed and the unemployed.…

Q: Which one is considered a discouraged worker? A person stopped looking for a job but would…

A: A person is said to be unemployed when he lies under the working-age population and wants to earn…

Q: Is government participation in our personal retirement plans good or bad? As an employee and…

A: Retirement planning is concerned with the retirement income goal, which includes finding sources of…

Q: Examine the data on the economic growth and unemployment rate for 2010-2015 i) What trends do…

A: i) Talking about the observation from the data provided: Economic growth seems to be fluctuating as…

Q: The OECD countries' unemployment rate has risen continuously since early 2020 before the COVID-19…

A: Unemployment has a lot of effect. The effect on unemployment has been classified according to the…

Q: see yourself as a volunteer and discuss your skills and its contribution to the volunteer group

A: The economies around the globe tend to operate with the ultimate motive of enhancing the level of…

Q: Discouraged workers: A)are getting paid too little. B)do not like their job. C)are working…

A: Discouraged workers are those workers who are not actively looking for a job and do not get any…

Q: Joel is presently unemployed due to Covid-19. However instead of having employment records to…

A: Unemployment benefits are the payments given by the State to unemployed person. People who can avail…

Q: If an employer wants to give his employees a cost of living adjustment, then he/she is likely to:…

A: The cost of living is the sum of money necessary to maintain a certain standard of living through…

Q: percent in 1989 to 11.4 percent in 1993 is Multiple Choice corporate restructuring change in…

A: Although the US government began recording unemployment in the 1950s, estimates of past unemployment…

Q: Your boss, who loves geometry, is excited because he has heard that the company's new foreign branch…

A: When an organization wants to hire employees to make production activities, it uses different…

Q: MULTIPLE CHOICE (identify the one best answer below and provide a justification for each of the five…

A: According to question given that in LFS data shows that the number of employed(E) has decreased by…

Q: Suppose that the LFS data show the number of employed has decreased by 2,000. Then you know with…

A: The unemployment rate is the percentage of the total labor force that is unemployed but actively…

Q: Unemployment is costly to employers, employees, and the economy as a whole. What are some…

A: Monetary models show the legitimacy of this outcome, however they expect the presence of adapted…

Q: An unemployed person is A person who wants a to work but does not look for one A person who is…

A: Employment is a situation in which a person is employed and has a job. He earns for his living and…

Q: Suppose an economist, realizing that unemployment benefits create an incentive for workers to wait…

A: Increased employment benefits tends to affect unemployment which is frictional unemployment.

Q: The labor force is made up of all people who are at least 16 years old and are capable of working.…

A: The labor force includes the number of individuals/people who are employed and who are unemployed…

Q: If the number of people employed is 150,000 and the labor force is 170,000, the unemployment rate is…

A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…

Q: Country A has a population of 250 million. All of the citizens are over the age of 18. Moreover, 100…

A: Labor force participation is ratio of labor force and working age population.

Q: Identify each person with the appropriate classification Heather just finished college, is not…

A: The labor force refers to the pool of individuals who are willing to work. In the context of labor…

Q: A government should implement profound reforms to the labor market, complementary to the elimination…

A: The basic requirement a producer needs is labour and capital. Here labour is the variable cost and…

Q: Round to one decimal place and do not enter the % sign. If your answer is 6.15%, enter 6.2. If…

A: The unemployment rate is a process of computing the % of the labor force that is jobless. As the…

Q: Mr Brown has recently been retrenched. The firm he worked for had to retrench a number of staff due…

A: Structural Unemployment occurs due to mismatch of skills between the skills possessed by the workers…

Q: after 2 years

Q: 1. Plot graph 2. Identify the relationship between economic growth and unemployment if any…

A: 1. The graph for the given data is plotted as follows:

Q: real life situation of inflation in the Philippines

A: The economies around the globe are involved in various types of economic, and financial activities.…

Q: Fatima has decided to work for an entrepreneur in Italy because the country's high entrepreneurship…

A: An individual who accepts the responsibility of launching a brand-new commercial enterprise is known…

Q: Mike has been working manufacturing cars for the last 20 years. Last year all the car manufacturing…

A: Mike is experiencing Structural unemployment.

Q: 4 factors that may determine the skill of a worker

A: Skill is a term that envelops the information, capabilities and capacities to perform operational…

Q: Effect of inflation on demand and supply

A: The inflation is the rise in the aggregate price level. The inflation would result in the increase…

Q: identify and explain four ways to reduce unemployment rate in Malaysia

A: The unemployment has become the acute problem in the Malaysia. Government can use the monetary and…

Q: There are 300 individuals in Latvaria. Of these, 75 are younger than 16, 5 are in prison, and 20 are…

A: The labor force participation rate refers as a measure of an economy’s active workforce. The formula…

Q: List and explain thoroughly, 4 examples of significant economic costs of unemployment and what we…

A: The economic cost of unemployment are as follows:Cost to an individual: The unemployed people suffer…

Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

Question

Q.1.4 Out of 20 million people in the population, 9 million people are in the labour force
and 3 million are unemployed, therefore the unemployment rate is: choose the correct answer
(2)
(a) 3 percent.
(b) 15 percent.
(c) 30 percent.
(d) 33,3 percent.

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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.

Similar questions

If you are a volunteer you are considered Unemployed None of the options Discouraged worker Employed
TRUE OR FALSE: 1. Increases in income oftentimes don’t lead to substantial increases of investment in health and children’s education. 2. Women empowerment is a social factor of population wherein women receive education which positively influences the fertility rates.
Which one is the drawback of employer-sponsored health insurance Can create labor market inefficiency Not appropriate for unemployed population Both a and b None of the above
TRUE OR FALSE: 1. Higher level of per capita income is connected/correlated to lower numbers of the absolutely poor. 2. The initial investments in education or health led to a stream of higher future income.
Which description best defines SOFT SKILLS? A-Interpersonal people skills that can be used in every job B- Skills that an employee acquires only after staying at one job for longer than 6 months C- Job-specific skills and knowledge required to perform a task D-The ability to write a strong resume and cover letter
1. Plot graph 2. Identify the relationship between economic growth and unemployment if any (positive, negative, no relationship) Use the data to justify your choice) 3. Does the relationship observed in number 2 satisfy the economic view of relationship between economic growth and unemployment? Use references to support your answer.
Only typed answer According to the most recent survey conducted by Statistics Bureau of Metropolis, currently there are 14 million people between the age of 15 and 64 living in the city. If the labour force participation rate in Metropolis is 65 percent and 8.5 million people currently have jobs, what is the rate of unemployment? Options: A) 3.7% B) 7.8% C) 6.6% D) 11.4% E) 12.9% Show all working out and full explanations
multiple choice In a country with population of 50 million people, there are 20 million children under age of 15, 16 million employed, 9 million pensioners,4 million unemployed and 1 million people who are physically unable to work. The unemployment rate in the country equals: a) 10% b) 13.3% c)20% d)25%
Fatima has decided to work for an entrepreneur in Italy because the country's high entrepreneurship rate provides her employment protection and strong unemployment insurance ( a) True ( b) False
Joel is presently unemployed due to Covid-19. However instead of having employment records to produce he only has records of his full time enrollment at an accredited institution of higher learning for the last 2 years. Will he be eligible to receive either regular or disaster unemployment benefits due to this unique situation he finds himself in ? He is willing and able to look for work but cannot due to Covid-19. He needs answer applicable to either TX or FL. Thanks
Inflation trend in Nigeria from 2000 to 2020
Is government participation in our personal retirement plans good or bad? As an employee and employer, we are required to pay a sizeable percentage of our income into a federal retirement/benefits plan OASDI (aka: Social Security). Is this good or bad for our government to require this. Should retirement planning be left to the sole discretion of the working citizen? Provide reasons/examples to support your position.