EBK ESSENTIALS OF ECONOMICS
7th Edition
ISBN: 8220102452107
Author: Mankiw
Publisher: CENGAGE L
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Chapter 20, Problem 1PA
Sub part (a):
To determine
Calculation of adult population.
Sub part (b):
To determine
Calculation of labor force.
Sub part (c):
To determine
Calculation of labor force participation rate.
Sub part (d):
To determine
Calculation of
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In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics announced that
of all adult Americans, 140,196,000 were employed, 14,729,000 were unemployed, and
80,729,000 were not in the labor force. Use this information to calculate:
a. The adult population
b. The labor force
c. The labor-force participation rate
d. The unemployment rate
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
The accompanying table provides data on the size of the labour force and the number of unemployed workers for the provinces and territories of Canada.
Labour force (thousands) Unemployed (thousands)
Province/Territory January 2019 January 2020 January 2019 January 2020
Alberta 2,497.6 2,500.1 169.8 181.7
British Columbia 2,672.5 2,664.5 125.3 118.8
Manitoba 696.1 696.7 38.6 35.7
New Brunswick 387.0 390.1 31.4 29.2
Newfoundland and Labrador 262.2 252.5 29.9 30.0
Northwest Territories 23.0 22.6 1.9 1.9
Nova Scotia 499.2 504.5 33.6 37.2
Nunavut 16.5 15.9 2.4 2.1
Ontario 7,797.7 7,973.6 448.6 415.3
Prince Edward Island 83.6 86.8 8.0 6.5
Québec 4,547.1 4,597.2 242.9 232.7
Saskatchewan 610.9 617.5 34.1 37.3
Yukon 22.2 22.2 0.9 1.1
Data from: Statistics Canada.
Calculate the number of workers employed in each province and territory in January 2019 and in January 2020. Use your answer to calculate the change in the total number of workers employed between January 2019 and January 2020.
For…
Chapter 20 Solutions
EBK ESSENTIALS OF ECONOMICS
Ch. 20.1 - Prob. 1QQCh. 20.2 - Prob. 2QQCh. 20.3 - Prob. 3QQCh. 20.4 - Prob. 4QQCh. 20.5 - Prob. 5QQCh. 20 - Prob. 1QRCh. 20 - Prob. 2QRCh. 20 - Prob. 3QRCh. 20 - Prob. 4QRCh. 20 - Prob. 5QR
Ch. 20 - Prob. 6QRCh. 20 - Prob. 7QRCh. 20 - Prob. 1QCMCCh. 20 - Prob. 2QCMCCh. 20 - Prob. 3QCMCCh. 20 - Prob. 4QCMCCh. 20 - Prob. 5QCMCCh. 20 - Prob. 6QCMCCh. 20 - Prob. 1PACh. 20 - Prob. 3PACh. 20 - Prob. 4PACh. 20 - Prob. 5PACh. 20 - Prob. 6PACh. 20 - Prob. 7PACh. 20 - Prob. 8PACh. 20 - Prob. 9PA
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Similar questions
- The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Employed Unemployed Not in the labor force What is the total labor force? What is the labor force participation rate? What is the unemployment rate? Number of people 4505 452 591 Suppose 286 of the 452 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? What is the new unemployment rate? % % % %arrow_forwardFill in the missing values in the table of data collected in the household survey for December, 1996. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. Working-age population Employment Unemployment Unemployment rate 5.4% Labor force 135,113 Labor force participation rate 67.0%arrow_forwardZandaland is a country with a population of 110 million. Out of this population, the number of retired people is 14 million, the number of people below working age (under 16 years) is 20 million, and the number of people under different types of institutional care is 1 million. In this country, employment amount to 55 million people and unemployment amount to 3 million people. Calculate the following and show your work: Working-age population Unemployment rate The economic activity rate Employment ratearrow_forward
- Fill in the missing values in the table of data collected in the household survey for December, 1996. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. Working age population: 235,900 employment: unemployment: unemployment rate: 9.4% labor force: labor force participation rate: 65.5%arrow_forwardThe BLS survey found the numbers in the table for a small community. Calculate the unemployment rate and the labor force participation rate for this community. 1- The unemployment rate is ………percent. 2- The labor force participation rate is ….. percent.arrow_forwardWhat is the difference between being unemployed and being out of the labor force? How do you calculate the unemployment rate? How do you calculate the labor force participation rate? What is the difference between inflation and deflation? Identify several parties likely to be helped and hurt by inflation.arrow_forward
- Suppose that the adult population is 210 million, and there are 130 million who are employed, and the unemployment rate is 7%. Calculate the labor force participation ratearrow_forwardThe table gives information about a nation's labor force. What is the labor force participation rate? The labor force participation rate is _____ percent. Labor Market Data Not in labor force 70.0 million Labor force 142.6 million Employed 136.9 millionarrow_forwardThe following scenarios have been taken from actual answers to the Current Population Survey conducted by the Bureau of Labor Statistics. In each case classify the individual as either employed, unemployed, or not in the labor force. 1. Walter White was laid off several months ago. He gave up looking for work and has not looked for two months.arrow_forward
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