Consider the following economy: Total Population = 1000 Total Adult Civilian (non-institutionalized) Population = 800 Number of people employed = 320 Number of people without jobs but looking for work = 80 What is the unemployment rate in this economy? 8% 10% 20% 25% None of the above
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Step 1: Calculate the total number of unemployed people by using the given information that there are 80 people without jobs but looking for work. Show more…
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Assume we have 200 people in our economy of working age. 120 of them have jobs 20 have been out of work for less than a week and are searching and have reasonable hopes of obtaining a new job. 25 have given up looking for work 10 are in prison 2 are in a mental institution 3 are in the military 20 people have no intension of working 1. How many people are unemployed? 2. What is the unemployment rate? 3. What is the labor force participation rate?
Andrew D.
(1). Suppose 80,000 people are employed, 12,000 are unemployed, and 28,000 are not in the labor force. What does the civilian non-institutional population equal? . (2). Suppose that some country had an adult population of about 50 million, a labor force participation rate of 60 percent , and an unemployment rate of 5 percent, how many people were employed ? A. 47.5 million B. 1.5 million C. 30 million D. 28.5 million
Suppose that an economy has 9 million people working fulltime. It also has 1 million people who are actively seeking work but currently unemployed as well as 2 million discouraged workers who have given up looking for work and are currently unemployed. What is this economy's unemployment rate? $L O 27.2$ a. 10 percent. b. 15 percent. c. 20 percent. d. 25 percent.
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