Suppose that you are given the following information: a. If the labour force participation rate is 68.0%, then the labour force is million. (Enter your response rounded to one decimal place.) b. The number of employed adults is million. (Enter your response rounded to one decimal place.) c. The unemployment rate is percent. (Enter your response as a percentage rounded to two decimal places) Total Population Adult, noninstitutionalized population Unemployed adults 300 million 295 million 5 million

Suppose that you are given the following information: a. If the labour force participation rate is 68.0%, then the labour force is million. (Enter your response rounded to one decimal place.) b. The number of employed adults is million. (Enter your response rounded to one decimal place.) c. The unemployment rate is percent. (Enter your response as a percentage rounded to two decimal places) Total Population Adult, noninstitutionalized population Unemployed adults 300 million 295 million 5 million

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,...

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What criteria do the BLS use to count someone as employed? As unemployed?
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.
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