1. a. Suppose the adult population over the age of 16 is 138 million and the labor force is 103 million (of whom 95 million are employed). How many people are "not in the labor force?" What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages. b. Using the above data, what is the unemployment rate?

1. a. Suppose the adult population over the age of 16 is 138 million and the labor force is 103 million (of whom 95 million are employed). How many people are "not in the labor force?" What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages. b. Using the above data, what is the unemployment rate?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 1SCQ: Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9...

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