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Author Question: Suppose that the U.S. population is 275 million. Also assume that the labor force is 135 million and ... (Read 126 times)

neverstopbelieb

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on: Jun 29, 2018
Suppose that the U.S. population is 275 million. Also assume that the labor force is 135 million and that 130 million people are employed. Calculate the unemployment rate.
 
  What will be an ideal response?

Question 2

What kind of information is conveyed in a time-series graph?
 
  What will be an ideal response?


softEldritch

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

The unemployment rate is (5 million unemployed)  (135 million labor force)  100 = 3.7 percent.

Answer to Question 2

A time series graph reveals four types of information. First, it shows the actual value of the variable(s) at each point in time. Second, it shows whether the variable(s) is rising or falling as time passes. Third, it shows the speed with which the variable(s) is changing. Finally, it shows the presenceor absenceof a trend.


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