Bundle: Macroeconomics, Loose-leaf Version, 13th + MindTap Economics, 1 term (6 months) Printed Access Card
13th Edition
ISBN: 9781337742412
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 6, Problem 6WNG
(a)
To determine
The rate of
(b)
To determine
The rate of employment.
(c)
To determine
The labor force participation rate.
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Using the following data calculate:
(i) The number of persons employed.
(ii) The number of persons unemployed.
(iii) The labour force.
(iv) The Labour Force Participation rate.
(v) The “official” unemployment rate
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part-Time workers
56 family workers who worked 15 hrs a week
234 Self-Employed
6543 Discouraged Workers
67,432 (ages 23-25) looking for work
67,890 laid off receptionists looking for work
544,321 (ages 16-20) looking for work
The current population is 6,000,000
5654 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalize
Using the following data calculate:(iv) The Labour Force Participation rate.(v) The “official” unemployment rate
currently working
23,000 volunteer workers
9845(ages 13-14) looking for work
12,000 (ages 15)looking for work
45,600 Part-time workers
56 family workers who worked 15 hrs a week
234 self-employed
6543 discouraged workers
67,432(ages 23-25)looking for work
67,890 laid off receptionists looking for work
544,321(ages 16-20) looking for work)
current population is 6,000,000
5654 Temp workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
c) Suppose that 20,000 of the employed switch to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not working and not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the “true” unemployment rate.
(d) explain the…
(b) Using the following data calculate:(i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working 23,000 volunteer workers9845 (ages 13-14) looking for work 12,000 (ages 15) looking forwork45,600 Part-Time workers 56 family workers who worked15 hrs a week234 Self-Employed 6543 Discouraged Workers67,432 (ages 23-25) looking for work 67,890 laid off receptionistslooking for work544,321 (ages 16-20) looking for work Current population is6,000,0005654 Temp Workers 5000 armed forces543 recent university graduates thatare going back to graduate school3500 institutionalized
Chapter 6 Solutions
Bundle: Macroeconomics, Loose-leaf Version, 13th + MindTap Economics, 1 term (6 months) Printed Access Card
Ch. 6.1 - Prob. 1STCh. 6.1 - Prob. 2STCh. 6.1 - In year 1, your annual income is 45,000 and the...Ch. 6.2 - Prob. 1STCh. 6.2 - Prob. 2STCh. 6 - Prob. 1QPCh. 6 - Prob. 2QPCh. 6 - Prob. 3QPCh. 6 - Prob. 4QPCh. 6 - Prob. 5QP
Ch. 6 - Prob. 6QPCh. 6 - Prob. 7QPCh. 6 - Prob. 8QPCh. 6 - Prob. 9QPCh. 6 - Prob. 10QPCh. 6 - Prob. 11QPCh. 6 - Prob. 12QPCh. 6 - Prob. 13QPCh. 6 - Prob. 14QPCh. 6 - Prob. 1WNGCh. 6 - Prob. 2WNGCh. 6 - Prob. 3WNGCh. 6 - Prob. 4WNGCh. 6 - Prob. 5WNGCh. 6 - Prob. 6WNGCh. 6 - Prob. 7WNGCh. 6 - Prob. 8WNGCh. 6 - Prob. 9WNGCh. 6 - Prob. 10WNG
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