EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 27, Problem 3DQ
To determine
The labor force and the calculation of unemployment rate.
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Students have asked these similar questions
Using the figures in the Employment Summary Table on the previous page, assume that there is
no structural unemployment, and that there are 5,000,000 who are frictionally unemployed.
How many people are cyclically unemployed in 1998?
500,000
○ 3,500,000
O 4,000,000
8,500,000
9,000,000
Exhibit 2 - Employment Summary Table
1998
1999
POPULATION
267,500,000
272,000,000
POTENTIAL LABOR FORCE
205,000,000 210,000,000
LABOR FORCE
EMPLOYED
UNEMPLOYED
150,000,000 154,500,000
141,500,000 145,500,000
8,500,000
9,000,000
Suppose that the U.S. noninstitutional adult population is 230 million and the
labor force participation rate is 67 percent. If 85 million adults are not working,
what is the unemployment rate?
55.2 percent
5.9 percent
33.0 percent
O 4.0 percent
docs.google.com a
4. A country has a total adult
population of 10 million, and of these
210 thousand are currently out of work
and actively searching for new
employment. A further 2.9 million are
not working because they are retired,
institutionalized, or simply choose not
to work. Finally a total of 10o0 thousand
citizens are currently enlisted with the
military, what is the current
unemployment rate? *
2.1%
3%
4.5%
O 2.9%
5. Suppoco vOur fathor oarnod a ooloru
O OO
Chapter 27 Solutions
EP ECONOMICS,AP EDITION-CONNECT ACCESS
Ch. 27 - Prob. 1DQCh. 27 - Prob. 2DQCh. 27 - Prob. 3DQCh. 27 - Prob. 4DQCh. 27 - Prob. 5DQCh. 27 - Prob. 6DQCh. 27 - Prob. 7DQCh. 27 - Prob. 8DQCh. 27 - Prob. 9DQCh. 27 - Prob. 10DQ
Ch. 27 - Prob. 11DQCh. 27 - Prob. 1RQCh. 27 - Prob. 2RQCh. 27 - Prob. 3RQCh. 27 - Prob. 4RQCh. 27 - Prob. 5RQCh. 27 - Prob. 6RQCh. 27 - Prob. 7RQCh. 27 - Prob. 8RQCh. 27 - Prob. 9RQCh. 27 - Prob. 10RQCh. 27 - Prob. 11RQCh. 27 - Prob. 1PCh. 27 - Prob. 2PCh. 27 - Prob. 3PCh. 27 - Prob. 4PCh. 27 - Prob. 5PCh. 27 - Prob. 6PCh. 27 - Prob. 7P
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- Unemployed 17 Total Population 185 Full time Workers Discouraged Workers 14 Part Time Workers Refer to the above information. Figures are in millions. The unemployment rate in this economy is: O 12.1 percent O 13.7 percent O 15.5 percent O 12.5 percent O 13.4 percent 90 20arrow_forwardThere are 20 million people in the "relevant population" on the planet of Mandalore. 15 million of these people are in the labor force, including 12.5 million who are employed and 2.5 million who are unemployed. What is the unemployment rate on Mandalore? 83.33% O 20% O 75% O 12.5% 16.67%arrow_forwardIn 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non-institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor- force participation rate and unemployment rate were about O 48.4% and 7.9%. 48.4% and 3.8%. O 44.6% and 7.9% 44.6% and 3.8%arrow_forward
- Suppose the existing labor force inside the country is 1,000,000 persons, of whom 900,000 are employed and 100,000 unemployed. Suddenly 100,000 overseas workers are thrown out of their jobs overseas and must return home. Of these, 95,000 become employed while 5,000 have difficulty finding jobs and are unemployed. As a result of this development, the unemployment rate of the country__from____to___ O a. rises; 11 percent; 11.6 percent O b. falls; 10 percent; 9.5 percent O c. rises; 10 percent; 11 percent O d. falls; 11 percent; 10 percentarrow_forwardTable 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor 45 million bs million Males not in labor force Females not in labor force Males unemployed Females unemployed Males employed Females employed S million 5 million 85 million 65 million Refer to Table 2s-4 What is the adult female labor-force participation rate in Mediter? O38.1% O61.9% O66.7% D.95 2%arrow_forwardIf there are 3 million discouraged workers, 2.4 million marginally attached workers, the labor force is currently 102.5 million, and the unemployment rate is 5.2%, how many people are unemployed in this country? O 5.2 million O 5.33 million O 8.33 million O 10.73 millionarrow_forward
- The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2014. Age 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Total Source: "Labor Force Statistics from the Current Population Survey."Bureau of Labor Statistics. What is the national unemployment rate? O 3.9% O 6.2% Employed Unemployed (Thousands of People) (Thousands of People) 4,548 1,106 13,894 1,747 95,497 5,270 24,395 1,107 7,971 387 146,305 9,617 10.5% 59.0% Not in Labor Force (Thousands of People) 10,979 6,438 23,744 14,262 36,602 92,025arrow_forwardSuppose that the total expenditures for a typical household in 2000 equaled $4,000 per month, while the cost of purchasing exactly the same items in 2005 was $4,500. If 2000 is the base year, the CPI for 2000 equals: Select one: O a. 1.25 O b. 1.00 O c. 1.20 O d. 0.83arrow_forwardA dozen eggs cost $1.22 in January 1990 and $2.33 in January 2016. The average wage for workers in private industries was $10.02 per hour in January 1990 and $21.33 in January 2016. By what percentage did the price of a dozen eggs rise? 48% 91% 111% By what percentage did the wage rise? O 21% 94% 113% In order to earn enough to buy a dozen eggs, a worker had to work. Workers' purchasing power in terms of eggs minutes in January 1990 and between 1990 and 2016. minutes in January 2016.arrow_forward
- Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent. If 85 million adults are not working, what is the unemployment rate? ☀+ F6 O 55.2 percent O 5.9 percent 6 O 33.0 percent O 4.0 percent F7 Y H N zo F8 & 7 U J Q Search F9 8 F10 K 9 2 F11 F12 ) 0 L P Home End { + 11 Insert } C Baarrow_forwardAssume a country has a total population of 58 million, of which 70 per cent are part of the working-age population. 23.7 million working-age people are not looking for a job, and 13.6 million are employed. What are the labour force participation rate (LFPR) and the unemployment rate (u)? O a. LFPR = 59.4%; u = 19.5% Ob. LFPR 41.6%:u-19.5% OC.LFPR = 41.6%; u = 32.8% O d. LFPR = 59.4%; u = 32.8%arrow_forwardIf the unemployment rate is 8 percent, then this means: the number of unemployed persons equals 8 percent of the employed persons. 8 percent of the population age over sixteen is unemployed. O 8 percent of the population is unemployed. O 8 percent of the labor force is unemployed.arrow_forward
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