ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Assume the following data for a country: Category Total population Population under 16 years of age or institutionalized Not in the labor force Unemployed Part-time workers looking for full-time jobs Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent Number of People, Millions 500 120 160 33 10arrow_forwardIf Jupiter has a population of 300,000 people, a labor force of 250,000 people, and 220,000 are employed, what is the unemployment rate?Hint: Find the employment rate. How is it related to the unemployment rate? Question 8Answer a. 16% b. 10% c. 14% d. 12%arrow_forwardThe graph shows the U.S. unemployment rate as a percent of the labor force during the years surrounding the Great Depression, when did the unemployment rate reach its lowest value? Unemployment Rate Select one: a. 1942 20 c. 1937 25 d. 1933 15 b. 1929 10 5 0 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942arrow_forward
- Suppose the non-institutional civilian population in a nation is 120 million, of which 80 million are employed and 10 million are unemployed. From this, the labor force participation rate is ______, and the unemployment rate is ________. Select one: a. 66.7%; 12.5% b. 75%; 11.1% c. 75%; 12.5%arrow_forwardThe following question has 5 parts (a.-e.), parts b. to e. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 70 workers become unemployed for 1 month, 31 become unemployed for 2 months, 16 become unemployed for 3 months and 9 become unemployed for 13 months. a. When will the economy reach its steady state? Month: Click for List Year: Click for Listarrow_forwardWhat are the two biggest recessions in terms of length and magnitude in the Graph. Remember shahded areas show recession and 2020 is not a part of the graph. How does the unemployment rate react during the two main recessions you have identified? Please answer both questions.arrow_forward
- s Assume you have the following information about an economy: Labor Force of an Economy Sumber of People (nillions) 243.8 153.6 90.2 144.2 Population over age 16 Labor force Not in the labor force Employed Unemployed Instructions: Round your answers to two decimal places a. What is the unemployment rate in this economy? b. What is the labor force participation rate? c. Assume that 0.9 million discouraged workers decide to start looking for work again, thereby increasing the number of officially unemployed workers by 0.9 million. What is the unemployment rate now? d. What is the new labor force participation rate?arrow_forwardThere are 500 m. working-age individuals: 400 m. are currently working, 20 m. are looking for work; 25 m stopped looking for work five months ago, and 55 m do not want to work. The unemployment rate, u, is: 20% 4% 16% 4.76% none of the above Show your work:arrow_forwardHow many missing jobs (a FRED question): Suppose the U.S.unemployment rate int the most recent month had been10% instead of its actual value. How many fewer people would have been working (assuming the labor force remained the same)? *note: I found that the unemployment rate is 3.5%, and Labor force 62.3 from FRED. Please show work with the given numbers from FRED.arrow_forward
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