Which of the following statements are true? Select one or more: O a. Someone is counted as unemployed if they do not have a job. O b. The participation rate is the (employed/labour force) x 100. O c. The unemployment rate is (unemployed/labour force) x 100. O d. The unemployment rate is (unemployed/population of working age) x 100.

Which of the following statements are true? Select one or more: O a. Someone is counted as unemployed if they do not have a job. O b. The participation rate is the (employed/labour force) x 100. O c. The unemployment rate is (unemployed/labour force) x 100. O d. The unemployment rate is (unemployed/population of working age) x 100.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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please answer only part B ( last question )
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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 OOO
3. Discuss some problems with using the unemployment rate as a barometer for the health of the labor market.
Category Discouraged workers Unemployed workers Employed workers Population (16 years and over) Number (millions) 15 40 100 225 In the above table, the unemployment rate is Select one: a. 18 percent. O b. 6 percent. c. 24 percent. O d. 29 percent.
There were 100,000 full-time workers and 50,000 part-time workers who prefer full-time work. 15,000 persons were actively looking for work and not working. 10,000 full-time college students 5,400 adults not looking for work. iv 3,000 discouraged workers. a. Calculate the official unemployment rate. Suppose 3,000 persons, because of positive economic news, started actively looking for work of which 1,000 found jobs. At the same time, 2000 new high school graduate enter the labor force. What b. impact will this have on the unemployment rate? C. What are the factors that make it hard to determine the unemployment? rate? Point allocation Total Unemployment Rate 1.00 New unemployment Rate 2.00 Factors that make it hard to determine the unemployment 2.00
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1. To be considered unemployed, a person needs to meet 2 qualifications: a. b. 2. Historically, what are the highest and lowest unemployment rates in our history? 3. There are 5000 people of working age. 2500 people are working full time. 900 are working part time. 350 people are without jobs and looking for work. a. Calculate the unemployment rate. b. Calculate the labor force participation rate. #3 % & 3 4. 8 6. e y W f k a C V m alt alt
If the number of unemployed equals 240,000 and the number of employed equals 300,000, the labor-force participation rate a. is 24%. is 80%. cannot be determined from this information. O b. O d. is 55.6%.
What is labor force a- the toal employment divided by the total number of unemployment b- the total number of employment c- the sum of emplou]\yment and uneemployment d- the sum of employment minus the sum of unemployment
Question 35 Which of the following statements about historical unemployment rate is true? Since 1960, the average unemployment rate in the United States has been about 6%. Since 1960, the average unemployment rate in the United States has been about 10%. Since 1960, the average unemployment rate in the United States has been about 2%. O d) The unemployment rate in the United States is always above 5%. O e) The unemployment rate in the United States has never fallen below 6%.