Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Chapter 1, Problem 2QQ
To determine
Identify which fraction is an
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30. In a country total population is 365 million. Of that, the number of under the age of 16 is 255 million. Among the rest of the population, 10 million are out of labor force. 95 million are employed among those who are in labor force. What is the unemployment rate?
The labor force is comprised of
a)the total number of working age people
b) the total number of employed people
C) the total population in an economy
d) the total # of people who are employed or unemployed
time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one Three of these people had not looked actively for work for three months, however
A Calculate the adult or working-age population
B. Calculate the labour force
C Calculate the participation rate
D. Calculate the number of employed workers
E Calculate the number of unemployed workers
F. Calculate me unemployment rate
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- 16 Every economy comprises of people who are out of the labor force. “Out of the labor force” is an economic term that refers to _______. a. Children below the age of 14 b. People who are retired c. All of the options d. People who are not ready to workarrow_forwardexplain with example The unemployment rate is the number of persons who are unemployed divided by the labor force then times 100. neearrow_forwardBetween 2000 and 2016 by how much did the labor force change? unemployment change? employment change?arrow_forward
- If you are 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 greeter at Wal-Mart are you considered employed or not in the labor force?arrow_forwardA small city has the following characteristics: Population (15+): 440000 Labour Force Participation Rate: 69% Unemployment Rate: 7% How many people are unemployed in this city? (Nearest whole number.)arrow_forwardWhich of the following people are counted as unemployed? a)A person out of work and actively searching for work b)A person in prison. c)A person who wants to work but stopped searching six months ago. d)A person who works part time but who wants a full-time work.arrow_forward
- Consider an economy made up of a 100 people, 50 of whom hold jobs, 10 of whom are looking for work and 15 whom are retired. What is the unemploymentarrow_forward8. T/F/U. The unemployment rate given that the number of employed workers is 180.5 million the number of non-working citizens is 76.856 million and the number of individuals no longer working and looking for a job is 70.8 millionarrow_forwardAccording to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6 million. The adult population over the age above 15 years was reported to be about 21.3 million and the labour force is 16.5 million. The population employed was about 13.4 million. Following this information; What is the population of the people that is not included in the labour force? Show your work Calculate the percentage of the people employed and the unemployment rate in Australia. Show your work. Currently unemployment has increased in Australia. What are the 2 main causes of increasing unemployment in Australia. Your answer should be based on the case study used during this trimester and current events.arrow_forward
- According to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6 million. The adult population over the age above 15 years was reported to be about 21.3 million and the labour force is 16.5 million. The population employed was about 13.4 million. Following this information; What is the population of the people that is not included in the labour force? Show your work. Calculate the percentage of the people employed and the unemployment rate in Australia. Show your work. Currently unemployment has increased in Australia. What are the 2 main causes of increasing unemployment in Australia. Your answer should be based on the case study used during this trimester and current events events. Examine the causes of at least two (2) main types of inflationarrow_forwardCompute the (a) Number of unemployed, (b) Unemployment-rate, (c) Population, and (d) Labor force participation rate, using this data: Number of employed = 1800 million Not in labour force =730 million Number of Labour force =2500 millionarrow_forwardTo calculate inflation, we a. First calculate price indices. Such as GDP deflator or CPI b. Calculate the inflation of each individual and then add them up c. Calculate the inflation of each individual price, and then calculate the average d. Fist calculate the GDP growth rate, using either nominal GDP or real GDParrow_forward
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