Principles of Economics (MindTap Course List)
8th Edition
ISBN: 9781305585126
Author: N. Gregory Mankiw
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 28, Problem 2CQQ
Using the numbers in the preceding question, what is the size of Ectenia’s labor force?
a. 50
b. 60
c. 70
d. 80
Expert Solution & Answer
Trending nowThis is a popular solution!
Learn your wayIncludes step-by-step video
schedule02:17
Students have asked these similar questions
Who would be included in the labor force?
a. Louie, who is waiting for his new job to start
b. Daisey, who has become discouraged looking for a job and has quit looking
c. Donald, an unpaid stay-at-home father
d. None of the above is correct.
1. Using the following data calculate:
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part-Time workers
56 family workers who worked 15 hours a week
234 Self-Employed
6543 discouraged workers
67,432 (ages 23-25) looking for work
67,890 laid off receptionists looking for work
544,321 (ages 16-20) looking for work
Current population is 6,000,000
5654 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
(i) The number of persons employed.
(ii) The number of persons unemployed.
(iii) The labour force.
(iv) The Labour Force Participation rate.
(v) The “official” unemployment rate.
Suppose all the people below have a job. Which one of them would not be considered part of the civilian labor force?
Select one:
a.
a 15 year old.
b.
a 55 year old.
c.
a 65 year old.
d.
a 75 year old.
e.
a 105 year old.
Chapter 28 Solutions
Principles of Economics (MindTap Course List)
Ch. 28.1 - Prob. 1QQCh. 28.2 - Prob. 2QQCh. 28.3 - Prob. 3QQCh. 28.4 - Prob. 4QQCh. 28.5 - Prob. 5QQCh. 28 - Prob. 1CQQCh. 28 - Using the numbers in the preceding question, what...Ch. 28 - Prob. 3CQQCh. 28 - Prob. 4CQQCh. 28 - Prob. 5CQQ
Ch. 28 - Prob. 6CQQCh. 28 - Prob. 1QRCh. 28 - Prob. 2QRCh. 28 - Prob. 3QRCh. 28 - Prob. 4QRCh. 28 - Prob. 5QRCh. 28 - Prob. 6QRCh. 28 - Prob. 7QRCh. 28 - Prob. 1PACh. 28 - Prob. 2PACh. 28 - Prob. 4PACh. 28 - Prob. 5PACh. 28 - Prob. 6PACh. 28 - Prob. 7PACh. 28 - Prob. 8PACh. 28 - Prob. 9PACh. 28 - Prob. 10PA
Additional Business Textbook Solutions
Find more solutions based on key concepts
(Studying Economics) According to the text, economics majors on average make more money than most other majors ...
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
• Illustrate and interpret shifts in the short-run and long-run aggregate supply curves.
Economics of Money, Banking and Financial Markets, The, Business School Edition (4th Edition) (The Pearson Series in Economics)
Determine the FW of the following engineering project when the MARR is 15% per year. Is the project acceptable?...
Engineering Economy (16th Edition) - Standalone book
Assume the United States is an importer of televisions and there are no trade restrictions. US consumers buy 1 ...
Principles of Microeconomics (MindTap Course List)
Explain how to derive a total expenditures (TE) curve.
Macroeconomics (Book Only)
Knowledge Booster
Similar questions
- Spain is one of the famous tourist destination in the world. They have a mixture of population. Which of the following statement is true about the labor force of Spain? a. Labor force includes the retired people in a country b. Labor force includes people who are not looking for a job c. Labor force is the sum of the employed and unemployed people in the labor force d. Labor force includes entire people in the countryarrow_forwardIn Country X, the population is 100 million, 60 million people are employed, 5 million are not employed and looking for work, and 35 million are not employed and not looking for work. What is the labor force in Country X?arrow_forwardDuring times of low employment, some people get discouraged, stop looking for work, and go back to school. How does going back to school affect the labor force? A. It does not change the labor force B. It increases the number in the labor force C. It decreases the number in the labor forcearrow_forward
- 1. What is the labor force?arrow_forwardThe table below shows labor data for a country named Zhouland. Answer the following questions: Age (years) Have a full time job Have a part time job Don't have a job but are looking for one Don't have a job and are not looking for one Total <10 150 150 10-15 135 135 16-20 120 30 75 80 305 21-30 20 50 25 20 115 31-50 80 100 55 40 275 51-70 250 50 150 100 550 >70 60 40 30 170 300 [a] What is the size of the labor force in the above economy? [b] Calculate the unemployment rate for this economy - up to 2 decimal points. [c] Calculate the employment rate for this economy - up to 2 decimal points. [d] Calculate the labor force participation rate for this economy - up to 2 decimal points.arrow_forwardIn Country X, the population is 100 million, 60 million people are employed, 5 million are not employed and looking for work, and 35 million are not employed and not looking for work. What is the labor force in Country X? (Write your answer in millions. If your calculation yields 10,000,000, write 10)arrow_forward
- a. The following table shows some labour characteristics for a sub-group of the Canadian population in 1998, 2006, 2009 and 2012 (Statistics Canada, Tables14-10-0287-01). The columns are the population of that sub-groups (Pop), the labour force (LF), the employment (E), the unemployments(U), the unemployment rate (UR), the participation rate (PR) and the employment rate (ER). The first four columns are in thousands of individuals and the last three in percentage. Fill the empty cells. Round your answers to the nearest first decimal using the same measurement units. Labour characteristics for a sub-group of the Canadian population in 1998, 2006, 2009 and 2012 (Statistics Canada, Table 14-10-0287- 01) Year Pop LF U UR PR ER 1998 10040 8171 7467 704 Number Number Number 2006 11060 9076 8482 594 6.545 82.061 76.691 2009 11413 Number Number 904 9.692 Number Number 2012 Number 9514 Number Number Number 81.316 74.94 b. Using the above table, what is the new unemployment rate in 2006 if 20…arrow_forwarda. The following table shows some labour characteristics for a sub-group of the Canadian population in 1981, 1986, 1999 and 2012 (Statistics Canada, Tables14-10-0287-01). The columns are the population of that sub-groups (Pop), the labour force (LF), the employment (E), the unemployments(U), the unemployment rate (UR), the participation rate (PR) and the employment rate (ER). The first four columns are in thousands of individuals and the last three in percentage. Fill the empty cells. Round your answers to the nearest first decimal using the same measurement units. Labour characteristics for a sub-group of the Canadian population in 1981, 1986, 1999 and 2012 (Statistics Canada, Table 14-10-0287- 01) Year 1981 1986 1999 Pop Number 1979 2205 2012 Number Number 2855 LF 876 879 Number 1883 E 839 818 Number Number U 37 61 55 Number UR Number 6.94 5.802 Number PR Number 39.864 Number 42.65 Number ER b. Using the above table, what is the new unemployment rate in 1986 if 20 thousand unemployed…arrow_forwardWhich one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorneyarrow_forward
- The labor force equals?arrow_forwardEconomists define the labor force to include only people who are working full time. people who are working. people who are not working but are actively looking for a job, and people who are working. all individuals of work age, regardless of whether they are working or looking for a job.arrow_forward2) a. How is the labor force defined and who measures it? The U.S. Bureau of Labor Statistics (BLS) measures the labor force as people over 18 years of age who are employed and those who are actively seeking work. The U.S. Labor Commission (USLC) measures the labor force as people over 18 years of age who are employed and those who are actively seeking work. The U.S. Bureau of Labor Statistics (BLS) measures the labor force as people over 16 years of age who are employed and those who are actively seeking work. The U.S. Bureau of Employment (USBE) measures the labor force as people over 16 years of age who are employed and those who are actively seeking work. b. The unemployment rate is the number of unemployed persons divided by the labor force. proportion of the adult population looking for work. ratio of the number of working adults divided by all adults. number of adults divided by the labor force. c. If the…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
