Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer D 2. Calculate the unemployment rate and the labor force participation rate in the following cases (5 points, 1 point each) a. Country

please answer D

image text in transcribed
2. Calculate the unemployment rate and the labor force participation rate in the following cases (5 points, 1 point each) a. Country A- Employed: 108 million. Adult population: 200 million. In labor force: 120 million. Unemployment rate: 12/120 x 100 =10%; LFP rate: 120/200 x 100 = 60% b. Country B-In labor force: 150 million. Adult population: 200 million. Unemployed: 7.5 million. Unemployment rate: 7.5/150 x 100 = 5%; LFP rate: 150/200 x 100 = 75% c. Country C- In labor force: 30 million. Adult population: 120 million. Unemployed: 6 million. Unemployment rate: 6/30 x 100 - 20%; LFP rate: 30/120 x 100 =25% d. Which of the three countries above (A, B, and C) are experiencing frictional and structural unemployment? Explain your answer. e. Which of the three countries above (A, B, and C) is likely to have the highest GDP? Which is likely to have the lowest GDP. Explain your answers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Routledge To Global Political Economy Conversations And Inquiries

Authors: Ernesto Vivares

1st Edition

1351064525, 9781351064521

More Books

Students also viewed these Economics questions

Question

=+a) Is this an experiment or an observational study? Explain.

Answered: 1 week ago

Question

What are the objectives of job evaluation ?

Answered: 1 week ago

Question

Write a note on job design.

Answered: 1 week ago

Question

Compute the derivative of f(x)cos(-4/5x)

Answered: 1 week ago

Question

Discuss the process involved in selection.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago