Brief Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN: 9781285165929
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 10.1, Problem 1QQ
To determine
The measurement of
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How is the unemployment rate measured?
Question 2Answer
a.
The number of unemployed divided by the labour force
b.
The number of unemployed divided by the population
c.
The number of unemployed divided by the number of people under the age of 15
d.
The number of unemployed divided by the number of employed
2. Assume that the employment data (in millions) are
Population (16 and over) = 243.190
Labor force = 161.600
Unemployment = 7.757
A. Calculate the number of people (16 years old and over) not in the labor force.
B. Calculate the number of employed civilian workers.
C. What is the unemployment rate?
4G1 11:23
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Suppose some country had an adult population of about 25 million, a labor-force participation
rate of 60 percent, number of employed 14.1 million people. What is the unemployment rate?
Chapter 10 Solutions
Brief Principles of Macroeconomics (MindTap Course List)
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- A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.arrow_forwardIf you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?arrow_forwardWhat happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?arrow_forward
- 15. Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or.104, and the labor force participation rate is 72.5 percent, or .725. &. What is the size of the labor force? b. How many people are unemployed? s What is the size of the working-age population? toTTATRarrow_forward16. Assess whether the following would be counted as "unemployed" in the Current Employment Statistics survey. A. A husband willingly stays home with children while his wife works. B. A manufacturing worker whose factory just closed down. C. A college student doing an unpaid summer internship. D. A retiree. E. Someone who has been out of work for two years but keeps looking for a job. F. Someone who has been out of work for two months but isn't looking for a job. G. Someone who hates her present job and is actively looking for another one. H. Someone who decides to take a part time job because she could not find a full time position.arrow_forwardAssess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.arrow_forward
- 5. What is unemployment? What are the four types of unemployment?arrow_forwardQUESTION 49 How would you define the number of people who are unemployed? O a. The number of people of working age who do not have a job O b. The number of adults who are willing to work at the current wage rate but do not have a job O c. The number of people of working age who are willing to work at the current wage rate but do not have a job O d. The number of adults who do not have a jobarrow_forwardSuppose, iln an Economy there are 500 adult people (15-65 age bracket). Out of them 315 are employed and 35 are unemployed. How much is the unemployment rate? Employment rate? Labor force participation rate?arrow_forward
- 7. What kind of indicator is the rate of unemployment? Explain your answer.arrow_forwardWhat 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 unemploymentarrow_forward• Unemployment • How do economists measure unemployment? Why is unemployment not a perfect measure of joblessness? Visit the Bureau of Labor Statistics website and explore the national unemployment rate section. What is the current level of national unemployment? Has it increased or decreased? Explain why the unemployment rate has changed.arrow_forward
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