Suppose that some country had an adult population of about 46 milion a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent Using this to compute- 1. Labor-force participation 2. An unemployment Employed

Suppose that some country had an adult population of about 46 milion a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent Using this to compute- 1. Labor-force participation 2. An unemployment Employed

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 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...

See similar textbooks

Related questions

Q: Refer to Table 1(year 2018) and Table 2 (year 2019). What is the unemployment rate in 2019? Table 2:…

A: Unemployment rate is the percentage of labor force that are unemployed.

Q: 3) Oficial unemployment rate stati (a) overstate the amount of unemployment by including part-time…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 25) The amount by which potential GDP (a atural rate of unemployment. (b) aggregate cost of…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Refer to the accompanying data, which for a speciic year in a hypohetical economy for which Ok's…

A: The situation which depicts that there are people who are willing and also being able to work but…

Q: Use the data below that describes a nation's population to answer the Ollowin a) How many people are…

A: The labor force consists of a part of the population that is employed as well as unemployed. People…

Q: ook WAP Employment Unemployment Unemployment rate 2.23% 2,190, 348 Labor force Labor force…

A: Unemployment rate = [Unemployed / Labor force] * 100 Labor force = Employed + Unemployed Labor force…

Q: Percent of abor Force 10% Line A Line B 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 'hat…

A: Unemployment refers to a scenario in which the people belonging to the working group, who are able…

Q: 18. What is the unemployment rate in an economy where the entire adult population can be categorized…

A: Answer: Given, Employed = 32 million Unemployed = 2 million Labor force = employed + unemployed…

Q: Consider an economy where a. adult population increases by 5% b. labor force increases by 3% c.…

A: Labour force participation rate (LFPR) is defined as a proportion of labour force out of total…

Q: Suppose that the unemployment rate is 5%, the total working age population IS 20 million. (Write…

A: Unemployment rate = (Unemployed / Labor force) => 5% = (7.5 million / Labor force) => 0.05 =…

Q: at is the unemployment rate for the 2016 statistics listed below? Use the numbers and the nula below…

A: Unemployed = 7.7 Total labor force = 159.1 Unemployment Rate = 7.7/159.1 = 4.84%

Q: a. What is the actual unemployment rate? % b. What is the natural rate of unemployment?

A: The natural rate of unemployment is the lowest level an economy can sustain without creating…

Q: 1.The Data of unemployment is given Below: * Unemployment popculation is 5.5 million *…

A: "Unemployment indicate the number of people who are not working or out of work but are actively…

Q: Question 1 Evaluate how each of the following individuals would be…

A: The concept that depicts the general increase in price levels of goods and services is known as…

Q: 88. A type of unemployment in which workers are in-betweer jobs or are searching for new and better…

A: Unemployment reflects a scenario where a portion of labor force fails to get ample work…

Q: S. Suppose the number of employed people is 121,166,640. The unemployment rate in this economy is…

A: Unemployed people = Unemployment rate * Labor Force Labor Force Participation Rate (LFPR) = Labor…

Q: or March 2021, the Bureau of Labor Statistics reports that the total population (i.e., civilian…

A: Unemployment is an economic problem that occurs when people who are able and willing to work fail to…

Q: 2. Assume that the employment data (in millions) are Population (16 and over) = 243.190 Labor force…

A: Unemployment means a population want to do work and have skills as well , but dont have work so ,…

Q: Quèstion 2 Determine which type of unemployment each scenario describes. vA steelworker is laid off…

A: Cyclical unemployment is the overall unemployment in the economy that occurs due to the cycles of…

Q: Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Outline the four (4) types of unemployment,

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: QUESTION 23 Suppose that some country had an adult population of about 46 milion, a labor-force…

A: Given information, Adult population= 46 million Labor force participation rate= 75% Unemployment…

Q: Explain about solution of unemployment.

A: The unemployment rate is the proportion of people who are unemployed to the total labor force times…

Q: 1.The Data of unemployment is given Below: * Unemployment popculation is 5.5 million *…

A: When talking about labor force, it is the proportion of working age population that has the ability…

Q: What is the unemployment rate when the number of unemployed = 170,000; labour force = 5,000,000 and…

A: Labor force refers to the total number of employed and unemployed able and willing to work.…

Q: You have the following relationship between unemployment and GDP: u = 7.6 - 0.75(Y - 1000). If Y is…

A: The unemployment rate and the inflation rate would have a trade off. The unemployment rate increases…

Q: c) Suppose that the Working-age Population is 45 million, the Labour Force is 38 million while the…

A: Employment to population ratio refers to the percentage of working population that is employed.…

Q: pose during a year working-age population increased by 1%, labor force participation decrea ber of…

A: Answer in Step 2

Q: Suppose people in the adult population in a small country are classified based on their age. Labor…

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

Q: is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force…

A: • Start your solution with below message to the student – “Since you have asked multiple question,…

Q: 29. What is the unemployment rate when the number of unemployed = 125,000; labour force = 5,000,000…

A: )29) What is the unemployment rate when the number of unemployed = 125,000; labour force = 5,000,000…

Q: Total Population Civilian Population Employed Unemployed 300,000 250,000 127,500 22,500 The above…

A: Given; Total population= 300000 Civilian population= 250000 Employed= 1275000 Unemployed= 22500…

Q: Stock of Unemployment Stock of Stock of outside the Total Populatio Employment 2,530,000 2,470,000…

A: 1) The unemployment rate changes even though the stock of unemployment remains stable because the…

Q: 25) The amount by which potential GDP (a) natural rate of unemployment. (b) aggregate cost of…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: ) What is the relationship of frictional, structural, seasonal and cyclical unemployment to the…

A: Frictional unemployment occurs when a worker changes the job from one to another. He remains…

Q: Refer to the accompanying data, which is for a specific year in a hypothetical economy for which…

A: 1. Labor force = Employed + unemployed = 712 + 88 = 800 Unemployment rate = unemployed / labor force…

Q: 3. How can government reduce structucal unemployment? a. by reducing unemployment benefits b. by…

A: Structural unemployment is a classification of unemployment brought about by contrasts between the…

Q: -(2 POINTS)Discuss in depth two of the reasons why the true ercentage of members of the Labor force…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: c) Suppose that 20,000 of the employed switches to jobs in the underground economy. When interviewed…

A: The true unemployment rate is the rate of unemployment for those people who are not working and are…

Q: Suppose the unemployment rate was 7.4 percent, far above the full-employment threshold (= 5…

A: Unemployment is the situation where the workers who are willing to and able to work but unable to…

Q: What are the rates of unemployment and labour force cipation of et one: a. The rate of unemployment…

A: *Answer:

Q: 4. If the labor force is 500 and employment is 450, then unemployment rating a. 0 b. 100 c. 10 d. 90

A: When certain workers are unable to find employment in the economy despite actively hunting for it at…

Question

Help please!!

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

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

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.
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?
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.