Suppose there is a town with 800,000 people. 200,000 of these people work full-time while 240,000 work part-time. 180,000 of these part-time workers want to work more hours, but are not permitted to do so by their respective employers. Another 85,000 individuals in this town are under the age of 16. 275,000 other individuals are currently not working. 215,000 of these individuals are actively seeking work, while 60,000 individuals have given up looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their jobs due to technological advancements, and the remaining 35,000 are not working due to normal turnover in the labor force. Solve for the labor force in this community. Solve for the number of people who are considered to be frictionally unemployed. Solve for the number of people who are considered to be structurally unemployed. Solve for the number of people who are considered to be cyclically unemployed. Solve for the current unemployment rate in this community. Solve for the total number of hidden or disguised unemployed in this town. а. b. с. d. е. f.
Suppose there is a town with 800,000 people. 200,000 of these people work full-time while 240,000 work part-time. 180,000 of these part-time workers want to work more hours, but are not permitted to do so by their respective employers. Another 85,000 individuals in this town are under the age of 16. 275,000 other individuals are currently not working. 215,000 of these individuals are actively seeking work, while 60,000 individuals have given up looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their jobs due to technological advancements, and the remaining 35,000 are not working due to normal turnover in the labor force. Solve for the labor force in this community. Solve for the number of people who are considered to be frictionally unemployed. Solve for the number of people who are considered to be structurally unemployed. Solve for the number of people who are considered to be cyclically unemployed. Solve for the current unemployment rate in this community. Solve for the total number of hidden or disguised unemployed in this town. а. b. с. d. е. f.
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 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....
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Suppose there is a town with 800,000 people. 200,000 of these people work full-time while
240,000 work part-time. 180,000 of these part-time workers want to work more hours, but
are not permitted to do so by their respective employers. Another 85,000 individuals in this
town are under the age of 16. 275,000 other individuals are currently not working. 215,000
of these individuals are actively seeking work, while 60,000 individuals have given up
looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due
to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their
jobs due to technological advancements, and the remaining 35,000 are not working due to
normal turnover in the labor force.
Solve for the labor force in this community.
Solve for the number of people who are considered to be frictionally unemployed.
Solve for the number of people who are considered to be structurally unemployed.
Solve for the number of people who are considered to be cyclically unemployed.
Solve for the current unemployment rate in this community.
Solve for the total number of hidden or disguised unemployed in this town.
a.
b.
с.
d.
е.
f.
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