QUESTION 20 An imaginary economy of Fruitsland has the following data: Adult Population = 50 million Labor Force Participation Rate = 70% Unemployment rate of 3% Based on this information how many people were EMPLOYED in this economy? O a. 1.05 million O b. 23.52 million O C. 35 million O d. 33.95 million

Answer the following three (3) questions on the basis of the following information about a hypothetical economy: Full-time workers 175.2 million Part-time workers 39.0 million Unemployed workers ("actively seeking..") 10.8 million "Discouraged workers" 5.0 million Retirees 38.0 million "Underground economy" 1.0 million TOTAL POPULATION 350 million Question 31 The unemployment rate is: O 5.5% O 4.5% O 6.3% O 4.8% Question 32 If "discouraged workers" were included in the calculations, what would the unemployment rate be? O 7.6% O 6.8% O 7.0% O 7.2%

The unemployment rate measures: O A. unemployed workers as a percentage of the population age over-sixteen. O B. the number of people unemployed divided by the number of people employed. O C. unemployed workers as a percentage of the population. O D. unemployed workers as a percentage of the labor force.

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Based on the figure below, what is the worker's hourly wage? Income $192 O $10 O $12 O $16 O $192 0 16 16 Hours of Leisure 0 Hours of Labor

A dozen eggs cost $1.22 in January 1990 and $2.33 in January 2016. The average wage for workers in private industries was $10.02 per hour in January 1990 and $21.33 in January 2016. By what percentage did the price of a dozen eggs rise? 48% 91% 111% By what percentage did the wage rise? O 21% 94% 113% In order to earn enough to buy a dozen eggs, a worker had to work. Workers' purchasing power in terms of eggs minutes in January 1990 and between 1990 and 2016. minutes in January 2016.

A person may become unemployed as a result of cutbacks in a business's production. O True False