Foundations of Economics - With MyEconLab
8th Edition
ISBN: 9780134641720
Author: BADE
Publisher: PEARSON
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Question
Chapter 22, Problem 4IAPA
To determine
To calculate the labor force participation rate and the
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The labor-force participation rate measures the percentage of the
a.
total adult population that is in the labor force.
b.
total adult population that is employed.
c.
labor force that is employed.
d.
labor force that is either employed or unemployed.
The 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.Micheal Scott worked at a paper company for the first 3 days of the survey reference week (Monday-Wednesday). But then he got fired and spent Thursday and Friday of that week answering newspapers and internet want-ads. He still has not obtained a new job.
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