Which of the following is correct? The labor force includes all adults who are able to work. Unpaid homemakers (e.g. husband cooking for the family) are counted as employed under the BLS U-3 definition. People doing less than 20 hours of paid work per week are counted as employed under the BLS U-3 definition. The labor force includes everyone who does not have a job and is willing and ready to start working, even if they have not actively looked for work for more than 4 weeks.

Which of the following is correct? The labor force includes all adults who are able to work. Unpaid homemakers (e.g. husband cooking for the family) are counted as employed under the BLS U-3 definition. People doing less than 20 hours of paid work per week are counted as employed under the BLS U-3 definition. The labor force includes everyone who does not have a job and is willing and ready to start working, even if they have not actively looked for work for more than 4 weeks.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter12: The American Labor Force

Section: Chapter Questions

Problem 9AA

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Fill in the blanks using the number that corresponds to the correct word or phrase below Labor statistics Labor force participation rate underemployed Percentage or rate census Not in the Labor force Discouraged workers An individual with a college degree in finance who is working as a sales clerk would be considered . Those who have stopped looking for employment and, hence, are no longer counted in the unemployed are classified as . The percentage of adults in an economy who are either employed or who are unemployed and looking for a job is called Unemployment is calculated as a The Bureau of tracks and reports all data related to unemployment. Children should be counted as Those who have quit looking fo a job, often due to being discouraged by their inability to find suitable employment are counted as The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau.
Classify the following:A student who has begun applying for jobs but has not yet found one: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An actor who works part-time at a restaurant but is looking for full-time work: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A retiree who will work if a job becomes available but is not actively applying: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An employee on temporary maternity/paternity leave: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population.
Which of the following is NOT one of conditions of being counted as part of the civilian labor force? Being under 65 years of age. Having looked for employment in the last 4 weeks or being employed. Being over 16 years of age.
Which one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorney
Which 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.
if the labor force is 250,000 and the total population 16 years of age or older is 300,000, the labor force participation rate is ?
987,156 Currently Working 9845 (ages 13-14) looking for work 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work 5654 Temp Workers 543 recent university graduates that are going back to graduate school 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work Current population is 6,000,000 5000 armed forces 3500 institutionalized Suppose that 20,000 of the employed switches 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
Q51 A farmer named Chris Freeland who has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $5 per unit, and the wage rate is $13 per worker. How many workers should Chris Freeland the farmer hire? Multiple Choice 3 2 4 1 7.
a. Determine the labor-market status of each of the following people. Demetrius is a voice-over actor. He has a gig this week, but next week he'll have to start auditioning for new roles. Alenjandra is laid off and has to take a part-time retail job because she can't find a full-time job. She is spending her extra time learning how to code. Kathryn quit her job when it was relocated too far away from her family. She has been looking for work for eight months, but so far hasn't been called in for an interview. Unemployed Marginally attached Involuntarily part-time or underemployed Kathryn Demetrius Alenjandra Answer Bank b. Are any of these people one of the long-term unemployed? Alenjandra Kathryn Demetrius
The table below shows labor income for four individuals and the amount each has paid in income taxes. Labor Income, Tax Paid, and Average Tax Rate Labor Income Tax Paid (dollars) $6,300 9,240 11,200 17,500 Individual Samantha Charles Amanda Young (dollars) $45,000 66,000 80,000 125,000 Average Tax Rate (percent) The income tax is proportional. The income tax is progressive. The income tax is regressive. % P Instructions: Enter your answers as a whole number. a. Complete the table above by calculating the average tax rate paid by each individual. b. Is the income tax depicted here progressive, regressive, or proportional?
Civilian labor force 100 million Persons unemployed 15 weeks or longer 1.6 million Job losers and persons who have completed temporary jobs (excludes job leavers) 3.1 million Total unemployed 6.2 million Total unemployed plus discouraged workers 7.0 million Total unemployed plus all marginally attached workers 8.1 million Total unemployed plus all marginally attached workers plus total employed part-time for economic reasons 9.2 million Refer to Table 128-693. What is the U-4 measure of labor underutilization? Question 46 options: 6.5% 6.9% 7.0% 17.9%
Three coworkers work for the same employer. Their jobs are warehouse manager, office manager, and truck driver. The sum of the annual salaries of the warehouse manager and office manager is $82,000. The office manager makes $4,000 more than the truck driver annually. The annual salaries of the warehouse manager and the truck driver total $78,000. What is the annual salary of each of the co-workers?