MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter P3, Problem 8KC
To determine
The type of
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1. Find (a), (b), (c), (d), (e), (f). Show work.
Labor-Force
Unemployment
Country
Adult Population Labor Force
Employed
Unemployed
Participation
Rate
Rate
Japan
265,788
(a)
|101,000
8,684
(b)
(c)
France
(d)
66,809
(e)
2,977
(f)
57.41
Question 11 The unemployment rate measures: the number of people unemployed divided by the number of people employed. O unemployed workers as a percentage of the labor force. O unemployed workers as a percentage of the population age over-sixteen. O unemployed workers as a percentage of the population.
25)
The amount by which potential GDP exceeds actual GDP is one meas
(a) natural rate of unemployment.
(b) aggregate cost of unemployment.
(e) difference between real and nominal GDP.
(d) difference between real and nominal income.
anamnloyment rate
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- 1) The data of unemployment is given below: - Employed population is 42.5million - Participation rate is 65% - Labor force is 50million Note: You are asked to find: a) Unemployment rate? b) Working-age population?arrow_forwardQuestion 9 The official unemployment rate may understate the problem because: of discouraged workers who no longer are actively seeking work. of the underground economy. of increases in worker productivity. of changes in wage rates. << Previous 4arrow_forward1) The data of unemployment is given below: - Employed population is 42.5million - Participation rate is 65% - Labor force is 50million Note: You are asked to find: a) Unemployment rate? b) Working-age population? c) Population out of labor force?arrow_forward
- (d) The following details refer to the employment position in The Bahamas in 2014. Employees in employment Unemployed 169040 28295 (i) Calculate the total labour force. [1] (ii) Calculate the unemployment rate. Show your working. [3]arrow_forwardQuestion 2 Part (a) Refer to the table below for a very simple economy producing three goods: education, pizzas and cars. Steel panels are needed for car production, cheese is necessary for making pizzas and projectors are used for educational service. Product Steel panels Education Cars Cheese Pizzas Projectors Quantity 40 400 400 2500 2500 4000 2017 Price $5000 $1000 $10000 $1.50 $9.00 $2000 Quantity 50 450 500 3500 3500 5000 2022 Price $6000 $1100 $12000 $1.50 $12.00 $3000 What is the nominal GDP for the economy in 2022? What was the nominal GDP in 2017? What is the real GDP in 2022 using 2017 prices as base year prices? What is the overall real GDP growth rate between 2022 and 2017? Part (b) Assume for an economy, there are 11.5 million people employed, unemployment rate is 5.2%, labor force participation rate is 64%, number of defence force personnelarrow_forward) Which of the following people would be unemployed (or belonging to any labor market group) according to official statistics? Shortly explain why or why not. (d) A parent who decides to stay home taking care of children full time. (e) A worker who quits his job because he thinks the pay is insufficient. (f) A teenager who gets discouraged looking for work and stops lookingarrow_forward
- Question 5 a) Complete the following table: Male Female Total Employed 15,829 13,532 Unemployed 1,181 Labor force 14,322 Not in the labor force 4,256 72% 76.1% Labor force participation rate 6.3% Unemployment rate b) Describe the main types and causes of unemployment.arrow_forward23) Oficial unemployment rate statistics may: (a) overstate the amount of unemployment by including part-time workers in the calculations. (h) understate the amount of unemployment by excluding part-time workers in the calkulations. (e) everstate the amount of unemployment because of the presence of "discouraged" workers whe are mot actively seeking employment. (d) understate the amount of unemployment because of the presence of "discouraged workers who are not actively seeking employment.arrow_forwardQuestion 22 Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called ___ seasonal unemployment. frictional unemployment. cyclical unemployment. structural unemployment.arrow_forward
- 18. Why does Employment Insurance cause unemployment? (A) It increases the price of labour by mandating a minimum. (B) It incentivizes the unemployed to remain so. (C) It reduces the demand for labour. (D) It releases currency into the economy.arrow_forwardTopic: Unemployment and Inflation Explain three types of unemployment, their meaning and examplesarrow_forwardProblem 05-11 (algo) Skyler is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to collect: Unemployment rate Participation rate Not in the labor force Find the working-age population, the labor force, the number of employed workers, and the number of unemployed workers. Instructions: Enter your responses rounded to one decimal place. Working-age population: Labor force: million 6% 62.5% 63.5 million Number of employed workers: Number of unemployed workers: million million millionarrow_forward
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