ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Assess whether the following would be counted as “
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- of the people described below, who would be counted as unemployed? Choose one or more: A a 55-year-old steel worker who was laid off 18 months ago and has given up trying to find a job OB. a 17-year-old single parent who has just been laid off and is looking for a new job OC. a second lieutenant in the U.S. Army DD. a full-time college student who plans to look for a job after graduation OE. bin able-bodied 53-year-old who took an early retirement package from her employer OF. a newly graduated Ph.D. who could not find a teaching job and is driving a taxi DG. a student who quit college to look for a modeling job in New Yorkarrow_forwardWorking-age Population Labor Force Employed Unemployed October 2019 259.8 164.4 158.5 5.8 July 2020 260.4 159.9 143.5 17.8 October 2020 260.9 160.9 149.8 11.1 Labor Force Participation Rate Unemployment Rate October 2019 63.3% 3.5% July 2020 61.4% 11.1% October 2020 61.7% 6.9% Use your own personal knowledge and any additional outside resources to answer the question below. What changes occurred in both the labor force participation rate and the unemployment rate over this time period?arrow_forwardUsing the table, Year 2018 Year 2019 Population Labor Force Employed 3500 2000 3675 2200 1980 1800 13. What is the unemployment rate in each year? 14. Calculate the change in the number of unemployed between Year 2018 and Year 2019? 15. How is the apparent discrepancy between #13 and #14 explained?arrow_forward
- Use the following table to answer the next four questions: Group # in Millions Work-eligible population Labor force ??? 181 Not in labor force 95 Employed Unemployed ??? 22 According to the table, the labor force participation rate in this economy is equal to 12.2%. 65.6%. 87.8%. 90.1%. 36.9%. O OOOarrow_forwardConsider the following labour market data. Adult Population is 139, there are 13 people not in the labour force, and 30 people are unemployed. Calculate the labour force participation rate (in %) a. 90.65 b. 81.29 c. none of the other answers are correct d. it is impossible to calculate from the data given e. 9.35arrow_forwardCalculate how these famous athletes from different time periods rank in salary by converting each to today's $ (our CPI in 2023 is 304). Year CPI income 1980 82.4 Sugar Ray Leonard $18,000,000 (boxing) 1931 15.2 2015 Athlete's nominal 237.0 Babe Ruth $80,000 (baseball) Lionel Messi $73,800,000 (beautiful game) Each athlete's real income (in 2023 $) Rank of earnings in today's $arrow_forward
- What is the term for the percentage of the total labor force that is unemployed but actively seeking employment and willing to work? A. Labor force participation rate B. Employment rate C. Unemployment rate D. Underemployment rate.arrow_forward4. The following data is from the Bureau of Labor Statistics (BLS). (https://data.bls.gov/ timeseries/LNS14000000) Category Civilian noninstitutional population Civilian labor force Participation rate Employed Employment-population ratio Unemployed Not in labor force May 2022 263,679 164,376 62.3 158,426 60.1 5,950 99,302 a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Looking at the last 10 years of data: b. What was the rate, month and year for the highest unemployment rate? c. What was the rate, month and year for the lowest unemployment rate?arrow_forward5.1 RTDA: Study Plan Problem 1 (algo) The Statistics Canada reported the data given in the table for February 2009. E Click the icon to view the table. Calculate the unemployment rate, the labour force participation rate, and the employment-to-population ratio. >>> Answer to 1 decimal place. The unemployment rate is percent. Data Table Item Labour force 18,315,200 Employment Working-age population 16,899,400 27,161,200 Print Donearrow_forward
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