The population of Gilligan’s Island is 100 people: 40 work full-time, 20 work half-time but prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given looking, 10 are not interested in working because they are full-time students, and 10 are retired. a) What is the unemployment rate?b) What is the employment-to-population ratio? c) Suppose that two of the people looking for jobs become discouraged and stop searching. What is the unemployment rate in this case? What is the employment-to-population ratio?
The population of Gilligan’s Island is 100 people: 40 work full-time, 20 work half-time but prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given looking, 10 are not interested in working because they are full-time students, and 10 are retired. a) What is the unemployment rate?b) What is the employment-to-population ratio? c) Suppose that two of the people looking for jobs become discouraged and stop searching. What is the unemployment rate in this case? What is the employment-to-population ratio?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 16RQ: Assess whether the following would be counted as unemployed in the Current Employment Statistics...
Related questions
Question
The population of Gilligan’s Island is 100 people: 40 work full-time, 20 work half-time but prefer to work
full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given looking,
10 are not interested in working because they are full-time students, and 10 are retired.
a) What is the
b) What is the employment-to-population ratio?
c) Suppose that two of the people looking for jobs become discouraged and stop searching. What is
the unemployment rate in this case? What is the employment-to-population ratio?
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