MACROECONOMICS+ACHIEVE 1-TERM AC (LL)
MACROECONOMICS+ACHIEVE 1-TERM AC (LL)
10th Edition
ISBN: 9781319467203
Author: Mankiw
Publisher: MAC HIGHER
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Chapter 1, Problem 2QQ
To determine

Identify which fraction is an unemployment rate measure.

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A country has a population of 160 million. Out of this population, the number of retired people is 23 million, the number of people below working age (under 16 years) is 39 million, and the number of people under different types of institutional care is 1.5 million. In this country, the number of the employed amount to 75 million people and the unemployed amount to 4 million people. Calculate the following and show your work Working-age population Unemployment rate The economic activity rate Employment rate
An economy has 100 peõple divided among the following groups: 25 have full-time jobs, 20 have one part-time job, 5 have two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children. a. Calculate the labor force and the labor-force participation rate.
What is the term for the percentage of the total labor force that is unemployed but actively seeking employment and willing to work?   A. Labor force participation rate B. Employment rate C. Unemployment rate D. Underemployment rate.
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