987,156 Currently Working9845 (ages 13-14) looking for work23,000 volunteer workers12,000 (ages 15) looking forwork45,600 Part-Time workers56 family workers who worked15 hrs a week6543 Discouraged Workers67,890 laid off receptionistslooking for work234 Self-Employed67,432 (ages 23-25) looking for work544,321 (ages 16-20) looking for work Current population is6,000,0005654 Temp Workers543 recent university graduates thatare going back to graduate school5000 armed forces3500 institutionalized3(c) Suppose that 20,000 of the employed switches to jobs in the undergroundeconomy. When interviewed by STATIN, 50% of these switchers report that theyare not working and not seeking work, while the other 50% report that they arenot working but seeking work. Explain what happens to the officialunemployment rate and the "true" unemployment rate.(d) Illustrate and carefully explain the impact of an increase in the income tax ratefrom 25 percent to 35 percent on the demand for labour, supply of labour,equilibrium wage and level of employment.

The underground economy, also known as the shadow economy, is the trade of goods and services that…

987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5000 armed forces 5654 Temp Workers 543 recent university graduates that are going back to graduate school 3500 institutionalized

987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5000 armed forces 5654 Temp Workers 543 recent university graduates that are going back to graduate school 3500 institutionalized

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 3SQP

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Similar questions

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identify two major trends in the changing demographics of the workforce.
If you are a volunteer you are considered Unemployed None of the options Discouraged worker Employed
How does the firm adjust its employment if it is costly to hire and fire workers?
Imagine someone is working part time but would like to be working full time, or working in a job that is not fully using the person’s skills. In your opinion is listing this person as employed a serious flaw in the way employment statistics are gathered and reported
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.
Discuss costs and benefits of job search.
Given the information in the table, what is the labor force participation rate? Catagory Less than 16 years old Full-time workers Full-time military Part-time workers A. 74.7% OB. 74.3% OC. 63.1% OD. 69.2% Institutionalized Looking for work Retired Number of people (millions) 40 135 1.2 20 14.8 11.5 41.5
What is employability
Age Employed (Thousands of People) Unemployed (Thousands of People) Not in Labor Force (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 1) What is the national Unemployment rate? 2) Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over 3) Which of the following groups has an unemployment rate lower than the national average unemployment rate?
Ananyize this graph in 1-2 paragraphs!
Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (iv) The labour force Participation rate (v). The "official" unemployment rate Type answer please