a. The country of Ziponia uses the same method to calculate the unemployment rate as the U.S.
Question:
a. The country of Ziponia uses the same method to calculate the unemployment rate as the U.S. Bureau of Labor Statistics uses. From the data below, compute Ziponia’s unemployment rate.
Under………………………………………........................…………. 16 9,000
Over …………………….………………............................…….…………….16
In military service…………………….....................…………………… 600
In hospitals…………………….……………….......................……………. 60
In prison…………………….…………………………….......................…. 200
Worked one hour or more in previous week……………....46,000
Searched for work during previous four weeks………………2,140
Did not work in previous week ………………………..........………..200
but would have taken a job if one were offered
b. How large is Ziponia’s labor force?
c. How many discouraged workers (loosely defined) live in Ziponia?
d. Not all of Ziponia’s citizens are accounted for in part (a). How are the missing citizens classified? Give some examples of what they may be doing.
e. How many of Ziponia’s citizens are not in the labor force?
Step by Step Answer:
Macroeconomics Principles and Applications
ISBN: 978-1111822354
6th edition
Authors: Robert E. Hall, Marc Lieberman