EBK ECON: MACRO4
4th Edition
ISBN: 9781305562097
Author: MCEACHERN
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 7, Problem 1.2PA
To determine
Size of the U.S labor force and the
Introduction:
Size of labor force refers to the total number of people in the working age group available for work. It is determined by multiplying the labor force participation rate by the total population.
Unemployment rate is the proportion of the unemployed people in the country. It is determined by dividing the number of unemployed people by the labor force.
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1.1 (Measuring Unemployment) Determine the impact on each of the following if 2 million formerly unemployed workers decide to return to school full time and stop looking for work:
a. The labor force participation rate
b. The size of the labor force
c. The unemployment rate
(Measuring Unemployment) Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent.
a. What would be the size of the U.S. labor force?
b. If 85 million adults are not working, what is the unemployment rate?
(Measuring Unemployment) Suppose that the U.S. non-
institutional adult population is 230 million and the labor
force participation rate is 67 percent.
a. What would be the size of the U.S. labor force?
b. If 85 million adults are not working, what is the unem-
ployment rate?
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