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1. Measuring employment, unemployment, and habor force participation Consider a tiny hypothetical economy composed entirely of the following people: Yakov, Ana, Charles, Dina, Juanita, and
1. Measuring employment, unemployment, and habor force participation Consider a tiny hypothetical economy composed entirely of the following people: Yakov, Ana, Charles, Dina, Juanita, and Giberto. Each person's employment status is given in the following table. Bused on the criteria used by the Bureau of Labor Statistics (Bt S), identify each person's status as employed, unemployed, "not in the labor force" (of not in the civilian labor force but still part of the adult population), or "not in the sdult population" if not in the civilian adult poputation. Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Porce Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% 50% 60% Complete the right half of the following equation to reflect the unemployment rate reported by the Bus. Unemployment Rate = According to this formula, this economy of six people? 33.33% 40% 50% 60% Complete the night half of the following equation to reflect the labor force particiation rate reported by the Btis. Labor Funce Purticipation Rate e According to this formula, what is the s econorny of six people? 31.33%40%50466046 Camplefe the right half of the following equation to reflect the unemployment rate reported by the BuS. Dhanployment Hate: According to this formuls, what is the unemployment rate of this economy of six people? 33.33% 4045 50% 60%
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