Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Chapter 7, Problem 2QQ
To determine
The effect of
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list four type of unemployment and provide one relevant example for each type of unemployment
1)Total Population 330.0 million
Adult, noninstitutionalized, non military population 260.0 million
Unemployment 8.5 million
a) If the labor force participation rate is 65% what is the labor force?
b) How many workers are employed?
c) What is the unemployment rate?
Discuss TWO (2) types of unemployment and provide a relevant example for each.
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- What criteria do the BLS use to count someone as employed? As unemployed?arrow_forwardA country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.arrow_forwardDiscuss the four types of unemployment. Rank these from the least serious to the most serious and explain why. Discuss underemployment and discouraged workers and the impact in our economy. Is the unemployment rate the government reports accurate? Does this rate include all the social costs of unemployment? Can the government do anything to reduce unemployment?arrow_forward
- Who reports the official U.S. unemployment rate? a. the U.S. Federal Reserve b. the U.S. Bureau of Labor Statistics c. unemployment collection offices d. the U.S. Treasury Department How frequently is the survey that determines unemployment released? a. yearly b. quarterly c. monthly d. weeklyarrow_forwardPlease explain in detail how population size impacts the rate of unemployment (at least 2 paragraphs)arrow_forwardAsurvey of 200,000 people finds 76,300 "employed," 6,640"unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers? a. 8.7percent b. 3.3 percent c. 8.0 percent d. 5.7 percentarrow_forward
- Consider an economy with the following data: Population (civilian, 16 and older, non-institutionalized) = 800 million. Employed = 364 million Labor Force = 400 million What is the unemployment rate in this economy? Group of answer choices A) 91% B) 36% C) 4.5% D) 9%arrow_forwardSusie is a 15-year-old who is looking to work as a babysitter. However, no one has hired her. How would the BLS classify Susie in the current population survey when measuring the unemployment rate? A) Susie would be considered unemployed B) Susie would not be considered part of the relevant population used to measure unemployment because only individuals who are 16 or older are included. C) Susie would be considered employed D) Susie would be considered as Not in the Labor Forcearrow_forwardWhich of the following combinations would increase unemployment in an economy? Select one: a) High interest rate, low taxes b) Low interest rate, high taxes c) Low interest rate, low government spending d) High interest rate, low government spending e) Low interest rate, low taxesarrow_forward
- A country's total civilian non institutional adult population is 1 million, and 500,000 people in this country are working, with another 20,000 looking for work. Which of the following statements about the labor force statistics in this country is accurate? a) The employment rate is 50% and the unemployment rate is 2% b) The unemployment rate is 2% and the labor force participation rate is 52% c) The employment rate is 96.15% and the labor force participation rate is 52% D) the labor force is 500,000 and the labor force participation rate is 50% How is this answer calculated?arrow_forwardCalculate the unemployment rate and the labor force participation rate in the following cases: a. Employed: 100 million. Population: 200 million. In labor force: 110 million. Unemployment rate: % Labor force participation rate: % b. Unemployed: 10 million. Population: 200 million. Employed: 90 million. Unemployment rate: % Labor force participation rate: % c. In labor force: 30 million. Population: 80 million. Unemployed: 3 million. Unemployment rate: % Labor force participation rate:arrow_forward
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