Question
Hi. Could you help me answer these questions please? A given economy consists of the following: Adult Population: 15 million Full-Time Workers: 8 million Part-Time
Hi. Could you help me answer these questions please?
A given economy consists of the following:
Adult Population: 15 million
Full-Time Workers: 8 million
Part-Time Workers: 2 million
Workers without jobs that have not looked for work in past 4 weeks: 4.4 million
Workers without jobs that have looked for work in the past 4 weeks: 0.6 million
1. What is the economy's official unemployment rate? (round to the tenths)
2. What is the economy's labor force participation rate? (round to the tenths)
3. Which of the following age groups have the highest unemployment rates?
a. 16 to 24 years old
b. 25 to 54 years old
c. 55 to 64 years old
d. 65 and older
4. Which of the following age groups have the lowest labor force participation rates?
a. 16 to 24 years old
b. 25 to 54 years old
c. 55 to 64 years old
d. 65 and older
5. True or False: Most part-time workers would work full-time if they could find full-time jobs
a. True
b. False
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