« previous next »

Author Question: Suppose the working-age population is 150 million, the labor force is 125 million, and employment is ... (Read 199 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 29, 2018
Suppose the working-age population is 150 million, the labor force is 125 million, and employment is 120 million.
 
  a. What is the unemployment rate?
  b. Now suppose that 2 million students graduate from college and begin to look for jobs. What is the new unemployment rate if none of the students have found jobs yet?
  c. Suppose that all 2 million students find jobs. What is the unemployment rate now?

Question 2

When a good is imported, the domestic production of it ________ and the domestic consumption of it ________.
 
  A) increases; increases
  B) increases; decreases
  C) decreases; increases
  D) decreases; decreases
  E) increases; does not change
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

a. The unemployment rate is (5 million unemployed  125 million labor force)  100 = 4.0 percent.
b. The unemployment rate is (7 million unemployed  127 million labor force)  100 = 5.5 percent.
c. The unemployment rate is (5 million unemployed  127 million labor force)  100 = 3.9 percent.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

luvbio

  • Hero Member
  • *****
  • Posts: 623
Reply #2 on: Jun 29, 2018
Thank you


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Area of Manatee Population Area of Manatee Population
Consequences of working overtime Consequences of working overtime
As the world’s population continues to grow, demands on limited resources for food production As the world’s population continues to grow, demands on limited resources for food production
A forklift pushes a 100-kg crate, starting from rest, exerting a horizontal force of magnitude ... A forklift pushes a 100-kg crate, starting from rest, exerting a horizontal force of magnitude ...
How do resultant force work among different angles? How do resultant force work among different angles?
Question about Resultant of gravitational force? Question about Resultant of gravitational force?
Video: Acids and bases - definition

For a complete list of videos, visit our video library