Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 22, Problem 3MCQ
To determine
The impact on certain variables when the Bureau of Labor includes all marginally attached workers as unemployed.
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If a person rejoins the labor force and starts looking for work, then the unemployment rate
a. increases and the labor-force participation rate is unaffected.b. increases and the labor-force participation rate also increases.c. is unaffected as the labor-force participation rate increases.d. and the labor-force participation rate are both unaffected.
What is a characteristic of an unemployed person?
An unemployed person _______.
A.
might be employed in a job that does not use the skills accumulated at college
B.
might have a job but be temporarily absent
C.
is in the labor force
D.
can hold a part-time job and be searching for a full-time job
Suppose the non-institutional civilian population in a nation is 120 million, of which 80 million are employed and 10 million are unemployed. From this, the labor force participation rate is ______, and the unemployment rate is ________.
Select one:
a. 66.7%; 12.5%
b. 75%; 11.1%
c. 75%; 12.5%
Chapter 22 Solutions
Foundations of Economics (8th Edition)
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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_forwardUnder what condition would an increase in the unemployment rate be a positive sign?arrow_forward49. Teenage unemployment rates tend to be a little lower than the overall unemployment rate. True Falsearrow_forward
- Also define employed person, unemployed person and unemployment rate.arrow_forwardIf the number of employed people equals 185 million, the number of unemployed people equals 15 million, and the number of people in the population aged 16 and older equals 210 million, then a. the unemployment rate equals 7.14% and the labor force participation rate equals 95.2%. a. the unemployment rate equals 7.23% and the labor force participation rate equals 85.7%. a. the unemployment rate equals 7.5% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%.arrow_forwardn June 2009 the BLS reported an adult population of 234.9 million, unemployment of 12.4 million, and employment of 141.6 million. Based on these numbers the labour-force participation rate was Select one: a. 141.6/154. b. 141.6/234.9. C. None of the above is correct. d. 154/234.9.arrow_forward
- 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 altarrow_forward3. Can you do anything to reduce the number of people in the following categories? If so, what? a. Frictionally unemployed b. Structurally unemployed c. Cyclically unemployedarrow_forwardExami Define these concepts: the labor force, the labor force participation rate, and the unemployment rate. 1.1 Which of the following is not included in the labor force? a. People who are employed. b. People who do not have a job, but who are actively searching for one. c. People who do not have jobs and do not want one. d. People working 30 hours a week. 1.2 Individuals who are working part time for economic reasons and would like to work full time are counted as unemployed in the traditional unemployment statistics. (True/False) 1.3 The labor force participation rate shows the percentage of the a. labor force that has a job. b. labor force that is unemployed. c. relevant population that is employed. d. relevant population that is in the labor force. 1.4 What would happen to the measured unemployment rate if unemployed individuals left the labor force because they no longer believed they could get jobs? 1.5 New Government Employment and True Unem- ployment. Suppose the U.S.…arrow_forward
- 9. The labor force participation rate is:A. The ratio of employees to the working-age populationB. The ratio of employees and the unemployed to the working-age populationC. The ratio of employees and the unemployed to the populationD. Usually lower than the employment ratearrow_forward16. Which of the following is an example of someone who has been frictionally unemployed? a.A worker who has been laid off due to the economic slowdown b.A teacher on her summer holidays c.A person who cannot find a job because of the seasonal variation d.An engineer who quits his jobarrow_forwardA country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate? Please I need answers for the below iv. What is the employment/population ratio? v. What is the natural rate of unemployment? vi. Is this economy in recession or a boom? Explainarrow_forward
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