Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.Labor Force Participation Rate =According to this formula, what is the labor force participation rate of this economy of six people?33.33%40%50%60%Complete the right half of the following equation to reflect the unemployment rate reported by the BLS.Unemployment Rate =According to this formula, what is the unemployment rate of this economy of six people?33.33%40%50%60% 1. Measuring employment, unemployment, and labor force participationConsider a small economy composed of six people: Alex, Becky, Clancy, Eileen, Kate, and Hubert. Each person's employment status is described in thefollowing table.Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (ifnot in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.PersonStatusAlex is a 40-year-old autoworker who was laid off from his job 6 months ago. He isfrustrated with his inability to find a new full-time position. Last week, he took a part-timejob but was given only 3 hours of work.Becky is a 24-year-old recent college graduate. She did not work for pay last week, but she had two job interviews.Clancy is a 45-year-old accountant who has been out of work for almost a year. Hebecame so discouraged that he gave up on his job search a couple of months ago.Kate is a 29-year-old who lost her job as an associate producer for a radio station. Afterspending a few weeks out of work and interviewing for several other positions, she gaveup on her job search and decided to go back to grad school. She made that decision a fewmonths ago.Hubert is a famous novelist. He is spending the summer at his lake house in upstate NewYork, doing a little writing each day but mostly spending his time gardening and reading.Eileen is a 10-year-old student at East Valley Middle School. She babysits her youngerbrother and does other chores, so her parents give her an allowance of $25 per week.

Unemployment rate refers to the percentage of labor force that are unemployed. Labor force is the…

Complete the right half of the following equation to reflect the labor force participation rate reported by Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% 50% 60% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? 33.33% 40% 50%

Complete the right half of the following equation to reflect the labor force participation rate reported by Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% 50% 60% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? 33.33% 40% 50%

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 16RQ: Assess whether the following would be counted as unemployed in the Current Employment Statistics...

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1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Alex, Becky, Clancy, Eileen, Kate, and Hubert. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as "Employed", "Unemployed", "Not in the labor force" (if not in the civilian labor force but still part of the adult population), or "Not in the adult population" (if not in the civilian adult population). Status Person Alex is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Becky is a 36-year-old autoworker who was just laid off by her employer 6 weeks ago Since being laid off, Becky has been actively searching for a new job. Clancy is a 37-year-old graphic designer who is taking 2 years off from…
Create a table with the National Unemployment rates from February 2020 through October 2020. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 3.5 3.5 4.4 14.7 13.2 11.0 10.2 8.4 7.9 6.9 6.7 6.7 What trend(s) do you observe? Next, review the employment situation summaries from March 2020 and October 2020.
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Yakov, Ana, Charles, Dina, Juanita, and Gilberto. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Yakov is a 43-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Ana is a 35-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Charles is a 41-year-old graphic designer who is taking 2 years off…
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Number in Laber Force Adhult Ppulation 100 x Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? O 20% 60% O 66.67% O 200% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Number of Unemployed Workers Labr Fare 100 x Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? O 20% O 60% O 66.67% O 200%
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Larry, Megan, Raphael, Susan, Becky, and Alex. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Larry is a 25-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. Megan is a 27-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Raphael is a 37-year-old graphic designer who is taking 2 years off from work to care for his small daughter. Becky is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she…
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Raphael, Susan, Alex, Becky, Eileen, and Clancy. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Raphael is a 49-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Susan is a 31-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Alex is a 37-year-old graphic designer who is taking 2 years off…
1. Measuring employment, unemployment, and labor force participation Consider a tiny hypothetical economy composed entirely of the following people: Alex, Becky, Clancy, Dileen, Kate, and Hubert. Each person's employment status is given in the following tabl Based on the criteria used by the Bureau of Labor Statistics (ALS), Identify each person's status as employed, unemployed, "not in the labor for not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Alex is a 23-year-old professional tennis player. When he's not competing, he works as a coach at a local tennisclub Becky is a 42-year-old steelworker who was just laid off by her employer She is trying to find any kind of job to help make ends meet. Clancy is a 40-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago Kats is a 29-year-old who…
Q) The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilianpopulation in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilianpopulation who were not in the labor force? Also, with examples examine thecauses of structural unemployment in Australia
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Antonio, Caroline, Dmitri, Frances, Latasha, and Jake. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Antonio is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Caroline is a 28-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Dmitri is a 77-year-old retired professor. He enjoys…
16) If the Local employment sector of manufacturing is 40,125 and total local total employment is 320,147 and national employment in that sector is 1,142,228, with total national employment at 13,425,000 what is the location quotient? 17) The location quotient must be than one a. Less than b. Equal to c. Greater d. None of the above 18) Based on question 16, what percentage of the local manufacturing are basic employees? 19) What is the EBM, if total basic employment is 128,500 and total employment is 350.000? 20) What does the EBM indicate in question 19? 21) Based on question 19, If the population is 798,112, what is the PER. 22) What does Does the PER indicate?
Question 4 Assume there are only 6 counties in a country, and there are only three industries (beer, bread and shirts) that employ people. The employment numbers are given in the Table below: Employment Beer Employment Bread Employment Shirts 200 County 1 County 2 County 3 County 4 County 5 County 6 4 45 10 6 12 120 10 10 60 10 16 10 20 12 2 60 12 Calculate the ELQS for the following county and industry combinations: (a) Beer in County 2 (b) Bread and County 6 (c) Shirts and County 2
HFC Online Video Tutorial 1. What would the unemployment rate be if, in an economy, there were 10 million unemployed individuals, 118 mitlion employed individuals, and 64 million individuals not in the labor force? A) 5.2% B) 3.9% C) 7.8% D) 5.5% 2. What would the labor force participation rate (LFPR) be if, in an economy, there were 10 million unemployed individuals, 110 millíon employed individuals, and 60 million individuals not in the labor force? A) There is not enough information to calculate the LFPR B) 200% C) 64.7% D) 66.7% 3. Which single word below most nearly captures the definition of GDP? A) Consumption B) Labor C) Output D) Prices 4. If unemployed workers become discouraged and stop looking for work, dropping out of the labor force, the unemployment rate: A) remains unchanged. B) falls. C) may rise or fall, depending on other factors. D) rises. question 1: question 2: question 3: 30 F2 F3 DII F4 F5 F6 F7 FB @ 23 24 & 4 7 Q W E ∞ * > < CO