Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971509
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 15.1, Problem 1QQ
To determine
The measurement of unemployment rate.
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2. Assume that the employment data (in millions) are
Population (16 and over) = 243.190
Labor force = 161.600
Unemployment = 7.757
A. Calculate the number of people (16 years old and over) not in the labor force.
B. Calculate the number of employed civilian workers.
C. What is the unemployment rate?
How is the unemployment rate measured?
Question 2Answer
a.
The number of unemployed divided by the labour force
b.
The number of unemployed divided by the population
c.
The number of unemployed divided by the number of people under the age of 15
d.
The number of unemployed divided by the number of employed
15. Suppose the number of employed people in an economy
is 121,166,640. The unemployment rate in this economy is
10.4 percent, or.104, and the labor force participation rate is
72.5 percent, or .725.
&. What is the size of the labor force?
b. How many people are unemployed?
s What is the size of the working-age population?
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Chapter 15 Solutions
Principles of Macroeconomics (MindTap Course List)
Ch. 15.1 - Prob. 1QQCh. 15.2 - Prob. 2QQCh. 15.3 - Prob. 3QQCh. 15.4 - Prob. 4QQCh. 15.5 - Prob. 5QQCh. 15 - Prob. 1CQQCh. 15 - Prob. 2CQQCh. 15 - Prob. 3CQQCh. 15 - Prob. 4CQQCh. 15 - Prob. 5CQQ
Ch. 15 - Prob. 6CQQCh. 15 - Prob. 1QRCh. 15 - Prob. 2QRCh. 15 - Prob. 3QRCh. 15 - Prob. 4QRCh. 15 - Prob. 5QRCh. 15 - Prob. 6QRCh. 15 - Prob. 7QRCh. 15 - Prob. 1PACh. 15 - Prob. 2PACh. 15 - Prob. 4PACh. 15 - Prob. 5PACh. 15 - Prob. 6PACh. 15 - Prob. 7PACh. 15 - Prob. 8PACh. 15 - Prob. 9PACh. 15 - Prob. 10PA
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- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?arrow_forwardA country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.arrow_forwardWhat happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?arrow_forward
- 16. Assess whether the following would be counted as "unemployed" in the Current Employment Statistics survey. A. A husband willingly stays home with children while his wife works. B. A manufacturing worker whose factory just closed down. C. A college student doing an unpaid summer internship. D. A retiree. E. Someone who has been out of work for two years but keeps looking for a job. F. Someone who has been out of work for two months but isn't looking for a job. G. Someone who hates her present job and is actively looking for another one. H. Someone who decides to take a part time job because she could not find a full time position.arrow_forward4G1 11:23 BO Bully Just now Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, number of employed 14.1 million people. What is the unemployment rate?arrow_forward5. What is unemployment? What are the four types of unemployment?arrow_forward
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- 7. What kind of indicator is the rate of unemployment? Explain your answer.arrow_forwardWhat is labor force a- the toal employment divided by the total number of unemployment b- the total number of employment c- the sum of emplou]\yment and uneemployment d- the sum of employment minus the sum of unemploymentarrow_forwardHow is the unemployment rate a useful measure and how it is not a useful measure; and, what are the different ways an unemployment rate can go down and up and what it measures?arrow_forward
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