Question

Unemployment Question: The small country of Macroland has a population of 100,000 people between the ages of 18 and 65. There are 50,000 people under the age of 18 and 20,000 people over the age of 65. The number of people between the ages of 18 and 65 who are looking for jobs is 20,000, and the number who have jobs is 50,000. Using this information, answer the following questions. Show your work. These are the numbers for the month of January: 1. What is the labor force of Macroland for people between the ages of 18 and 65 in January? 2. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? 3. What is the labor force participation rate of Macroland for people between the ages of 18 and 65 in January? Now assume there were some changes in February: Of the people between the ages of 18 and 65 in Macroland, about 2,000 who were looking for work dropped out of the labor market and stopped looking for work. In addition, 8,000 people who were previously unemployed in January got jobs in February. However, 3,000 who had jobs in January lost their jobs, and all of them qualify for unemployment insurance and are looking for work. Using this information, answer the following questions. Show your work:

          Unemployment Question: The small country of Macroland has a population of 100,000 people between the ages of 18 and 65. There are 50,000 people under the age of 18 and 20,000 people over the age of 65. The number of people between the ages of 18 and 65 who are looking for jobs is 20,000, and the number who have jobs is 50,000. Using this information, answer the following questions. Show your work. These are the numbers for the month of January: 
1. What is the labor force of Macroland for people between the ages of 18 and 65 in January? 
2. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? 
3. What is the labor force participation rate of Macroland for people between the ages of 18 and 65 in January? 

Now assume there were some changes in February: Of the people between the ages of 18 and 65 in Macroland, about 2,000 who were looking for work dropped out of the labor market and stopped looking for work. In addition, 8,000 people who were previously unemployed in January got jobs in February. However, 3,000 who had jobs in January lost their jobs, and all of them qualify for unemployment insurance and are looking for work. Using this information, answer the following questions. Show your work:

Added by Katie S.

Question

Please give Ace some feedback