Suppose you live in a commumity of 100 peoplewhere everyowe is able and seeks to work. Iv 75people arve over 16 years old and 50 of them areemployed Calculate the unemployment vate in thiscommunity? what is the labor borce participationrate?

Unemployment Rate = Total Unemployed / Total Labor Force * 100 Labor Force Participation Rate =…

Answered: Suppose you live iw a community of 100…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 16P

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Similar questions

Are U.S. unemployment rates distributed evenly across the population?
What is structural unemployment? Give examples of structural unemployment.
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?
While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
Does a gap between the average earnings of men and women, or between whites and blacks, prove that employers are discriminating in the labor market? Explain briefly.
Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.
Exercise 15.2 and Exercise 15.3 asked you to describe the labor-leisure tradeoff for Jonathon. Since, in the first example, there is no monetary incentive for Jonathon to work, explain why he may choose to work anyway. Explain what the opportunity costs of working and not working might be for Jonathon in each example. Using your tables and graphs from Exercise 15.2 and Exercise 15.3, analyze how the government welfare system affects Jonathans incentive to work.
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.

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Suppose you live iw a community of 100 people where everyowe is able and seeks to wetrk. I6 75 people are oven 16 years old and 50 of them are employed Calculate the unemployment rate in this community? what is the labor borce participation rate?