Table 28-2Suppose people in the adult population in a small country are classified based on their age.Labor Force StatusAgeLess than 5555 and Older|Number employedNumber unemployedNumber in population|400,000100,00025,0007,000600,000200,000Refer to Table 28-2. In the proper order, which age group has the highest unemployment rate and which has the highest labor-force participation rate?O a. Under 55, 55 and olderO b. Under 55, under 55O c. 55 and older, 55 and olderO d. 55 and older, under 55

Labor force participation rate= Labor forceTotal population*100 where the labor force is the sum of…

Suppose people in the adult population in a small country are classified based on their age. Labor Force Status Age Less than 5555 and Older Number employed Number unemployed Number in population| 400,000 100,000 25,000 7,000 600,000 200,000 fer to Table 28-2. In the proper order, which age group has the highest unemployment rate and which has the highest labor-force participation rate? a. Under 55, 55 and older b. Under 55, under 55 c. 55 and older, 55 and older d. 55 and older, under 55

Suppose people in the adult population in a small country are classified based on their age. Labor Force Status Age Less than 5555 and Older Number employed Number unemployed Number in population| 400,000 100,000 25,000 7,000 600,000 200,000 fer to Table 28-2. In the proper order, which age group has the highest unemployment rate and which has the highest labor-force participation rate? a. Under 55, 55 and older b. Under 55, under 55 c. 55 and older, 55 and older d. 55 and older, under 55

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 1SCQ: Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9...

See similar textbooks

Similar questions

Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
Whose unemployment rates are commonly higher in the U.S. economy: Whites or nonwhites? The young or the middle-aged? College graduates or high school graduates?
What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?
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?
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 criteria do the BLS use to count someone as employed? As unemployed?
What is frictional unemployment? Give examples of frictional unemployment.
Are U.S. unemployment rates distributed evenly across the population?