Use the labour market information given below to answer the followingquestions: * Total opulation = 10 milliol Working - a * ge population = 7.5million Labour force = 6 million Unemployed = 1 million Calculate thenumber of individuals (in millions) not in the labour force. a) 2.5 b) 1 c) 1.5 d) 4.0

The objective of the question is to calculate the number of individuals not in the labour force…

Answered: Use the labour market information given…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate the labour force participation rate based on the following information. LFPR= actual labour force/potential labour force x 100 Total population: 260 millionEmployed: 130 millionUnemployed: 10 millionRetired: 35 millionOutside the working-age group: 60 million
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This indicator calculates the proportion of the population with incomes below the estimated poverty line: Select one: a. Head Count Ratio b. Income Gap Ratio c. Human Poverty Index d. Human Development Index
please don't copy from chegg otherwise I will give you downvote I want you answer in detail. I'm not satisfied with other answer. if you are not sure do not answer. Suppose there is a town with 800,000 people. 200,000 of these people work full-time while 240,000 work part-time. 180,000 of these part-time workers want to work more hours, but are not permitted to do so by their respective employers. Another 85,000 individuals in this town are under the age of 16. 275,000 other individuals are currently not working. 215,000 of these individuals are actively seeking work, while 60,000 individuals have given up looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their jobs due to technological advancements, and the remaining 35,000 are not working due to normal turnover in the labor force. Solve for the labor force in this community. Solve for the number of people…
Suppose the price of manufactured goods is 2, price of food goods is 5. The production function for Qm=Lm^0.60 and QF=5*LF^0.60. The total number of workers, L, is 4986. What is the number of workers in the manufacturing sector?
Which one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorney
The following table shows the labor market data for the U.S. working age population for 2022. The data are from the Bureau of Labor Statistics (I have made slight modifications to some of the numbers in order to get nice ratios). Civilian non-institutional population Civilian labor force Men 25 to 54 Years old 63,122,000 55,900,843 Women 25 to 54 Years old 64,039,000 48,934,000 Here is the issue. In the United States childcare services are very expensive: about $10,000 to $15,000 per child per year, depending on the state. This means that a low-income family with two kids and an annual income of, say $40,000, has to pay 50% to 75% of its income to childcare. Many women who cannot afford such expensive childcare services have to stay home to take care of their kids. This is one reason (but not the only one) that keeps women out of the labor force. For the sake of this exercise let's assume that high childcare costs are the only reasons for low women's participation…
Problem 08-02 algo Refer to the figure to answer two questions. Marginal Revenue Product(per hour) $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 2 worker(s) MRP b. $10 an hour? 4 worker(s) 6 Quantity of Labor(workers per hour) 8 According to the figure, how many workers would be hired if the prevailing wage were Instructions: Enter your responses as a whole number. a. $14 an hour? 10 12 14
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4

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