ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Refer to the Table, The number of people unemployment ?
Labor force participation rate
75% ,Total population 16 years of age and older is 200 million
Unemployment rate is 10%
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- Considering an economy with a total labour force of 151 million people, in which 144 million people are employed and 7 million people are searching for a job. Including the people who are young but have not yet entered into the labour market, the total adult population is 228.4 million people. The retirees are 2.7 million people.Find a). Unemployment rate b). Employment rate c). Participation ratearrow_forwardDescribe the following term: "Unemployment". Is it: Inflation Price Level National Income none of these One component of National Incomearrow_forwardQuestion 1 During a recession, the price of goods and services goes down because of low demand. A company that makes Ethernet adapters is planning to expand its production facility at a cost of $200,000 five years from now. However, a contractor who needs work has offered to do the job for $100,000 if the company will do the expansion now instead of five years from now. If the interest rate is 10% per year. a) How much of a discount is the company getting? b) How much is the interest amount the contractor is getting in five years if the company accept the offer to do expansion now?arrow_forward
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- In 2019 in the United Kingdom, the adult population was about 65 million, the labour force participation rate was 60 percent, and the unemployment rate was 6 percent. What was the approximate number of people unemployed? a. 2.3 million b. 0.7 million c. 1.7 million d. 6.5 millionarrow_forwardUse the table data below about this economy to answer the questions that follow regarding employment/unemployment. Show all calculations. Group Relevant population ?? Not in labor force 85 Labor Number in Millions Employed Unemployed 245 ?? 25 1. What is the relevant population in this economy? 1. How many people are employed in this economy? 1. Calculate the unemployment rate.arrow_forwardSuppose the unemployment rate is 5%, participation rate is 80%, out of the labour force is 100 million. What is employment (in million)arrow_forward
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