EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 8220103632225
Author: PARKIN
Publisher: PEARSON
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Chapter 22, Problem 6IAPA
To determine
To explain:
The trends of labor force participation rate in USA from 1960 to 2016. Also, explain the difference in trends of labor force participation among women and men.
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Between 1980 and 2015, by how many percentage did the labor force participation rate of
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women change?
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The 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 million
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- Based on the information in the table below, calculate the labor force participation rate, and the percentage or workers out of the labor force: Total adult population over the age of 16 83 million Total in the labor force 63 million Total Employed 60 million Total Unemployed 3 million Total out of the labor force 20 million Group of answer choices Participation rate: 24.1%, Out of the labor force: 92.5% Participation rate: 75.9%; Out of the labor force: 24.1% Participation rate: 5%,Out of the labor force: 15% Participation rate: 24.1%, Out of the labor force:75.9%arrow_forwardFor each of the following separate scenarios, determine if the labor force participation rate will increase or decrease. Group of answer choices ( Choose) Labor force participation rate will decrease or Labor force participation rate will Increase A) More companies allow workers to work from home. B) The government increases the financial aid received by full-time students. C) Companies receive government subsidies for hiring high-school graduates. D) Some discouraged workers re-enter the labor force to look for work.arrow_forwardWhat is the labor force participation rate? Not in labor force 76.0 million The labor force participation rate is percent. Labor force 147.4 million >>> Answer to 1 decimal place. Employed 139.3 million EGO B8888888888arrow_forward
- Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the labor force participation rate is approximately is ?arrow_forwardQuestion 34 Give and explain at least three reasons why men's labor force participation decreased overall since the 1950s. Do any of these factors have an effect on women's labor force participation as well? Explain how they affect women and justify your reasoning.arrow_forwardWhich individual is out of the labor force? John is without a job, is able to work, but is not actively looking for work. Matthew is working 40 hours per week. Mary is without a job, is able to work, and is actively looking for work. Emily is working 6 hours per week.arrow_forward
- 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. Walter White was laid off several months ago. He gave up looking for work and has not looked for two months.arrow_forwardFrom 1960s to 2020, there are two main patterns in the US labor force participation rate. For each pattern, explain the possible reasons why we see such trend. Breakdown any general reason if possible.arrow_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.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.arrow_forward
- Q4a You are given the following data on the annual earnings of residents on Examland, according to the 2020 census. The average earnings of native born workers are $42,500. The average earnings of workers to migrated to Examland between 2015 and 2019 are $39,600. And the average earnings of workers who migrated to Examland between 2010 and 2014 are $41,250. Calculate the entry effect on earnings. Express your answer both in dollars and as a percentage of native- born earnings.arrow_forwardExamine the table below which contains some labour market data for the Bahamas (2009 - 2014) and answer the questions which follow. Year Avg. monetary labour income for workers in their main occupation in the last month, PPP Avg. monetary labour income for formal workers in their main occupation in the last month, PPP Avg. monetary labour income for informal workers in their main occupation in the last month, PPP Unemployment Rate Monthly Minimum Wage, PPP 2009 2,069.32 1,774.19 3,450.47 13% 770 2011 1,992.92 1,836.31 2,663.86 15% 770 2012 1,818.44 14% 770 2013 1,614.73 1,604.85 1,652.05 14% 770 2014 1,674.15 1,593.31 2,055.34 14% 770 a. Given the theorized relationship between the unemployment rate and the minimum wage in the static model of the labour market, how should the unemployment rate respond to a constant minimum wage? b. How does this compare to the data shown in the table? Explain. c. Note that there is a difference in income depending on…arrow_forwardQuestion 1: In 2017-18, the Pakistan Bureau of Statistics announced that of all adult Pakistanis, 59,786,200 were employed, 3,613,800 were unemployed, and 58,800,000 were not in the labor force. Use this information to calculate the labor-force participation rate?arrow_forward
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