Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 22, Problem 4SPA
To determine
Determine the changes in the labor force when the
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The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your
percentages to two decimal places.
Category
Employed
Unemployed
Not in the labor force
What is the total labor force?
What is the labor force participation rate?
What is the unemployment rate?
Number of people
4505
452
591
Suppose 286 of the 452 unemployed people have been
unemployed for so long that they stop looking for work.
What is the new labor force?
What is the new labor force participation rate?
What is the new unemployment rate?
%
%
%
%
Question 8
ABC Country has 1,289,902 unemployed and a labor force of 4,379,233.
What is the unemployment rate for ABC Country?
Question 1 – Below are some hypothetical statistics for a country in September 2020. Compute the unemployment rate for that month.
Population 1, 650, 200
Working age population 1, 115,776
Participation Rate 76.2%
Employed 788,221
Question
Your Answers & Calculations
What is the size of the labour force in this economy?
What is the unemployment rate in this economy?
What is the employment rate in this economy?
Suppose that 5,500 of the unemployed people stop searching for work. What is the unemployment rate now?
Suppose that 8,000 people migrate to Canada and start to look for work as soon as they land in the country. What happens to the unemployment rate in that case?
(Assume there are no discouraged workers from the above question)
Chapter 22 Solutions
Macroeconomics
Ch. 22.1 - Prob. 1RQCh. 22.1 - Prob. 2RQCh. 22.1 - Prob. 3RQCh. 22.1 - Prob. 4RQCh. 22.1 - Prob. 5RQCh. 22.2 - Prob. 1RQCh. 22.2 - Prob. 2RQCh. 22.2 - Prob. 3RQCh. 22.2 - Prob. 4RQCh. 22.2 - Prob. 5RQ
Ch. 22.2 - Prob. 6RQCh. 22.2 - Prob. 7RQCh. 22.3 - Prob. 1RQCh. 22.3 - Prob. 2RQCh. 22.3 - Prob. 3RQCh. 22.3 - Prob. 4RQCh. 22.3 - Prob. 5RQCh. 22.3 - Prob. 6RQCh. 22 - Prob. 1SPACh. 22 - Prob. 2SPACh. 22 - Prob. 3SPACh. 22 - Prob. 4SPACh. 22 - Prob. 5SPACh. 22 - Prob. 6SPACh. 22 - Prob. 7SPACh. 22 - Prob. 8SPACh. 22 - Prob. 9SPACh. 22 - Prob. 10SPACh. 22 - Prob. 11SPACh. 22 - Prob. 12APACh. 22 - Prob. 13APACh. 22 - Prob. 14APACh. 22 - Prob. 15APACh. 22 - Prob. 16APACh. 22 - Prob. 17APACh. 22 - Prob. 18APACh. 22 - Prob. 19APACh. 22 - Prob. 20APACh. 22 - Prob. 21APACh. 22 - Prob. 22APACh. 22 - Prob. 23APACh. 22 - Prob. 24APACh. 22 - Prob. 25APACh. 22 - Prob. 26APACh. 22 - Prob. 27APACh. 22 - Prob. 28APACh. 22 - Prob. 29APA
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- Question 1 – Below are some hypothetical statistics for a country in September 2020. Compute the unemployment rate for that month. Population 1, 650, 200 Working age population 1, 115,776 Participation Rate 76.2% Employed 788,221 Suppose that 5,500 of the unemployed people stop searching for work. What is the unemployment rate now? Suppose that 8,000 people migrate to Canada and start to look for work as soon as they land in the country. What happens to the unemployment rate in that case? (Assume there are no discouraged workers from the above question)arrow_forwardQuestion 5. Unemployment (a) A country labor force is 18. There are 8 children, 1 active duty servicemember, and 9 retirees over age 67. The labor force participation rate is 58%. Find the country's population. Show work. (b) In the country from (b), in addition to the 8+1+9 people, 4 more don't have jobs. Of the four, two are looking. Find the country's unemployment rate. (c) A country is undergoing a jobless recovery and one person falls victims to it. The country's labor supply indicators pick it up: both the unemployment rate and the labor force participation drop. Determine if the person is discouraged from job searching or is underemployed. Motivate your answer using the labor supply categories. Be concise and to the point.arrow_forwardWhich of the following does the unemployment rate not tell us? A. Percent of the labor force currently unemployed B. Ratio of the number of unemployed over the size of the labor force C. Percent of workers who wish to retire within the next 12 months D. Share of the labor force that is currently joblessarrow_forward
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