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Author Question: Based on the information in the above table, what is the unemployment rate? What is the labor force ... (Read 91 times)

big1devin

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on: Jun 29, 2018
Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?
 
  What will be an ideal response?

Question 2

The chain-weighted output index method ________.
 
  A) is used to calculate the value of nominal GDP
  B) values the quantities produced in a year at the prices of the base year
  C) shows that real GDP increases every year
  D) uses the prices of two adjacent years to calculate the real GDP growth rate


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T4T

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The unemployment rate equals (6 million unemployed)  (139 million labor force)  100 = 4.3 percent. The labor force participation rate equals (139 million labor force)  (207 million working-age population)  100 = 67.1 percent.

Answer to Question 2

D


big1devin

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

carlsona147

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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