Econ ch 21
Which of the following scenarios describes an individual who is considered 'not in the labor force'?
Clay has no interest in finding paid work and is happy volunteering for 40 hours per week.
The unemployment rate for men before 1980 had tended to be higher than the unemployment rate for women
False
Those who classify themselves as underemployed are included in the unemployment rate.
False
Bob is currently unemployed and spends approximately 35 hours per week looking for a job. Is Bob considered part of the labor force?
Yes
All of the following are steps of how the U.S. Bureau of Labor Statistics calculates the unemployment rate, except:
divide country into 3,137 areas divides areas into districts of about 300 households each call about 15,000 four-household clusters -> interview about 50,000 US-owned companies
Suppose the adult population over the age of 16 is 495 million and the labor force is 94.9 million. What is the labor force participation rate? (round your answer to the nearest 10th)
labor force participation rate = 19.2%
In college economics, Frank, is studying labor statistics. Help Frank determine the labor force participation rate of his assigned country with 15 million adult working-age people and 7 million people in the labor force. (round your answer to the nearest 10th)
labor force participation rate = 46.7%
Jackie works for the Bureau of Labor Statistics in Country Y. The data she collected is listed below: Population (adult work-aged) Country Y: 9,600,530 Labor Force Country Y: 4,555,235 What is the labor force participation rate? (round your answer to the nearest 10th)
labor force participation rate = 47.4%
Assume that the total working-age population is 121.6 million. If 50.0 million are not in the labor force, what is the labor force participation rate? (Round your answer to one decimal place.)
labor force participation rate = 58.9%
Calculate the labor force participation rate for Country M, whose adult working age population is 9.3 million and labor force is 5.6 million. (round your answer to the nearest 10th)
labor force participation rate = 60.2%
The adult working-age population is 249.7 million, 67.8 million of whom are not in the labor force. What is the labor force participation rate? (round your answer to the nearest 10th)
labor force participation rate = 72.8%
In an effort to provide accurate statistics about the labor force related to the population, new data was collected regarding the population in Country E. The current population of working-age adults is 542,093 people and the labor force is 398,450 people. What is the labor force participation rate for Country E? (round your answer to the nearest 10th)
labor force participation rate = 73.5%
The establishment payroll surveys generates payroll employment estimates based on all of the following, except:
number of employees average weekly hours worked average hourly, weekly, and overtime earnings ->number of underemployed employees
All of the following are potential examples of hidden unemployment, except:
someone who has found part-time work but is looking for full-time work someone with a graduate degree who is working as a waiter ->someone who has a full-time job but wants to look for a job with more upward mobility someone who is so discouraged by unemployment that she stops looking for work
Which of the following best describes the historical pattern of the US unemployment rate since 1955?
the US unemployment rate has fluctuated over time
Suppose the labor force is 94.4 million people, and the number of those employed is 84.1 million people. What is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 10.9%
There are currently 15.34 million people who are not working but are available and actively looking for jobs and 506.21 million people who are employed. What is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 2.9%
Tyler is studying economics in college and was asked to calculate the unemployment rate for Country R. If Country R has 7,895 employed people and 321 unemployed people, what is the unemployment rate of Country R?
unemployment rate = 4%
The Bureau of Labor Statistics is calculating the unemployment rate. If there are currently 159.87 million people in the labor force of which 7.21 million are unemployed, what is the current unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 4.5%
Assume that the total working-age population of a country is 121.6 million. If 50.8 million people are not in the labor force and 67.4 million people are employed, what is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 4.8%
Assume there are 20.45 million unemployed people and 396.78 million employed people in a country. What is the unemployment rate?
unemployment rate = 4.9%
Georgia is studying economics in college and was asked to calculate the unemployment rate for Country S. If Country S has 565 employed people and 30 unemployed people, what is the unemployment rate of Country S?
unemployment rate = 5%
The adult working-age population is 230.3 million, 103.2 million of which are not in the labor force. If there are 6.6 million unemployed individuals, what is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 5.2%
The Bureau of Labor Statistics is calculating the unemployment rate. If there are currently 98.7 million people in the labor force of which 5.6 million are unemployed, what is the current unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 5.7%
Suppose there is a total population of 107.8 million people with 46.7 million not in the labor force. The remainder of the population is in the labor force. If 57.5 million people are employed, what is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 5.9%
The adult working-age population is 241.7 million, 103.8 million of whom are not in the labor force. If there are 8.4 million unemployed individuals, what is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 6.1%
Calculate the unemployment rate if the number of unemployed people (actively seeking work) is 70.67 million, and the number of employed people is 845.71 million. Round your answer to the nearest tenth.
unemployment rate = 7.7%
If the number of unemployed people actively seeking work is 10.4 million, and the number of employed people is 111.3 million, what is the unemployment rate? Round the answer to the nearest tenth.
unemployment rate = 8.5%
If the labor force is 155.8 million people, and 141.4 million people are employed, what is the unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 9.2%
Suppose a country's labor force is 153.9 million (of whom 139.1 million are employed). What is the country's unemployment rate? Round your answer to the nearest tenth.
unemployment rate = 9.6%