Pearson eText Economics -- Instant Access (Pearson+)
13th Edition
ISBN: 9780136879459
Author: Michael Parkin
Publisher: PEARSON+
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Question
Chapter 22, Problem 17APA
(a)
To determine
Determine the changes in labor force participation rate, employment-to-population rate, and
(b)
To determine
Identify the impacts if the government reduced the unemployment benefits.
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Students have asked these similar questions
5.1 RTDA: Study Plan Problem 1 (algo)
The Statistics Canada reported the data given in the table for February 2009.
E Click the icon to view the table.
Calculate the unemployment rate, the labour force participation rate, and the employment-to-population ratio.
>>> Answer to 1 decimal place.
The unemployment rate is percent.
Data Table
Item
Labour force
18,315,200
Employment
Working-age population
16,899,400
27,161,200
Print
Done
Household Employment Data
(Numbers in billions)
Working age Population
Labor Force
Employed
Unemployed
October 2019
259.8
164.4
158.5
5.8
July 2020
260.4
159.9
143.5
17.8
October 2020
260.9
160.9
149.8
11.1
Source: https://www.bls.gov/news.release/empsit.t01.htm
Let’s calculate labor force participation and the unemployment rate for October 2019.
X 100
Labor Force Participation Rate = People in the Labor Force
Total Working Age Population
X 100
= 164.4
259.8
= 0.6327 X 100
= 63.3%
X 100
Unemployment Rate = Unemployed People
X 100
Total Labor Force
= 5.8
164.4
= 0.0353 X…
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?
%
%
%
%
Chapter 22 Solutions
Pearson eText Economics -- Instant Access (Pearson+)
Ch. 22.1 - Prob. 1RQCh. 22.1 - Prob. 2RQCh. 22.1 - Prob. 3RQCh. 22.1 - Prob. 4RQCh. 22.1 - Prob. 5RQCh. 22.2 - Prob. 1RQCh. 22.2 - Prob. 2RQCh. 22.2 - Prob. 3RQCh. 22.2 - Prob. 4RQCh. 22.2 - Prob. 5RQ
Ch. 22.2 - Prob. 6RQCh. 22.2 - Prob. 7RQCh. 22.3 - Prob. 1RQCh. 22.3 - Prob. 2RQCh. 22.3 - Prob. 3RQCh. 22.3 - Prob. 4RQCh. 22.3 - Prob. 5RQCh. 22.3 - Prob. 6RQCh. 22 - Prob. 1SPACh. 22 - Prob. 2SPACh. 22 - Prob. 3SPACh. 22 - Prob. 4SPACh. 22 - Prob. 5SPACh. 22 - Prob. 6SPACh. 22 - Prob. 7SPACh. 22 - Prob. 8SPACh. 22 - Prob. 9SPACh. 22 - Prob. 10SPACh. 22 - Prob. 11SPACh. 22 - Prob. 12APACh. 22 - Prob. 13APACh. 22 - Prob. 14APACh. 22 - Prob. 15APACh. 22 - Prob. 16APACh. 22 - Prob. 17APACh. 22 - Prob. 18APACh. 22 - Prob. 19APACh. 22 - Prob. 20APACh. 22 - Prob. 21APACh. 22 - Prob. 22APACh. 22 - Prob. 23APACh. 22 - Prob. 24APACh. 22 - Prob. 25APACh. 22 - Prob. 26APACh. 22 - Prob. 27APACh. 22 - Prob. 28APACh. 22 - Prob. 29APA
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- Under what condition would a decrease in unemployment be bad for the economy?arrow_forwardThe U.S. unemployment rate increased from 4.6 in July 2001 to 5.9 by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?arrow_forwardHow do you calculate the unemployment rate? How do you calculate the labor force participation rate?arrow_forward
- Under what condition would an increase in the unemployment rate be a positive sign?arrow_forwardUsing the definition of the unemployment rate, is an increase in the unemployment rate necessarily a bad thing for a nation?arrow_forwardMany college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?arrow_forward
- Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?arrow_forwardA country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.arrow_forwardOver the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?arrow_forward
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