The Bureau of Labor Shenanigans announces, of all adult Vulcans: 215,000,000 were employed, 19,000,000 were unemployed, and 119,000,000 were not in the labor force. Use the above information to calculate (Show all work in context): a) The adult population b) The labor force c) The labor-force participation rate d) The unemployment rate e) True, false, uncertain, or not enough information? The labor force participation rate increases while the unemployment rate decreases if 650,000 new job seekers from the same adult population now start looking for work? Explain with numerical evidence. (Hint: Critical Thinking)
The Bureau of Labor Shenanigans announces, of all adult Vulcans: 215,000,000 were employed, 19,000,000 were unemployed, and 119,000,000 were not in the labor force. Use the above information to calculate (Show all work in context): a) The adult population b) The labor force c) The labor-force participation rate d) The unemployment rate e) True, false, uncertain, or not enough information? The labor force participation rate increases while the unemployment rate decreases if 650,000 new job seekers from the same adult population now start looking for work? Explain with numerical evidence. (Hint: Critical Thinking)
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 2P
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Transcribed Image Text:The Bureau of Labor Shenanigans announces, of all adult Vulcans:
215,000,000 were employed,
19,000,000 were unemployed, and
119,000,000 were not in the labor force.
Use the above information to calculate (Show all work in context):
a) The adult population
b) The labor force
c) The labor-force participation rate
d) The unemployment rate
e) True, false, uncertain, or not enough information?
The labor force participation rate increases while the unemployment rate decreases if 650,000 new job seekers
from the same adult population now start looking for work?
Explain with numerical evidence. (Hint: Critical Thinking)
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