Refer to the table below. Calculate the number of people considered "employed," the number considered "unemployed," the "unemployment rate" and the "labor force participation rate" (LFR). The number of people who are employed = The number of people who are unemployed = Calculate the unemployment rate: Calculate the labor force participation rate: Number of adults 20,000 Number of adults who are paid employees 8,000 Number of adults who work in their own businesses 1,600 Number of adults who are unpaid workers in a family member's firm 1,000 Number of adults who were temporarily absent from their jobs due to flooding or earthquake 400 Number of adults waiting to be recalled to a job from which they were laid off 200 Number of adults who do not have a job, are available to work, and have tried to find a job within the past 4 weeks 1,400 Number of adults who do not have a job, are available to work, but have not tried to find a job within the past 4 weeks 780 Number of adults who are full time students 3,000 Number of adults who are homemakers or retirees 3,620
Refer to the table below. Calculate the number of people considered "employed," the number considered "unemployed," the "unemployment rate" and the "labor force participation rate" (LFR). The number of people who are employed = The number of people who are unemployed = Calculate the unemployment rate: Calculate the labor force participation rate: Number of adults 20,000 Number of adults who are paid employees 8,000 Number of adults who work in their own businesses 1,600 Number of adults who are unpaid workers in a family member's firm 1,000 Number of adults who were temporarily absent from their jobs due to flooding or earthquake 400 Number of adults waiting to be recalled to a job from which they were laid off 200 Number of adults who do not have a job, are available to work, and have tried to find a job within the past 4 weeks 1,400 Number of adults who do not have a job, are available to work, but have not tried to find a job within the past 4 weeks 780 Number of adults who are full time students 3,000 Number of adults who are homemakers or retirees 3,620
Chapter27: The Philips Curve And Expetactions Theory
Section: Chapter Questions
Problem 8SQP
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Question
Refer to the table below. Calculate the number of people considered "employed," the number considered "unemployed," the "
The number of people who are employed =
The number of people who are unemployed =
Calculate the unemployment rate:
Calculate the labor force participation rate:
Number of adults |
20,000 |
Number of adults who are paid employees |
8,000 |
Number of adults who work in their own businesses | 1,600 |
Number of adults who are unpaid workers in a family member's firm | 1,000 |
Number of adults who were temporarily absent from their jobs due to flooding or earthquake | 400 |
Number of adults waiting to be recalled to a job from which they were laid off | 200 |
Number of adults who do not have a job, are available to work, and have tried to find a job within the past 4 weeks | 1,400 |
Number of adults who do not have a job, are available to work, but have not tried to find a job within the past 4 weeks | 780 |
Number of adults who are full time students | 3,000 |
Number of adults who are homemakers or retirees | 3,620 |
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