Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls give me all correct choices i will like answer 1. Measuring employment, unemployment, and labor force participation Consider a tiny hypotheticai economy composed entirely

pls give me all correct choices i will like answer image text in transcribed
image text in transcribed
1. Measuring employment, unemployment, and labor force participation Consider a tiny hypotheticai economy composed entirely of the following people: Van, Amy, Carlos, Deborah, Janet, and Felix. Each person's employment status is given in the following table. Sased on the criteria used by the Bureau of Labor statistics (BLS), identify each person's status as employed, unemployed, "not in the iabor force not in the civilian iabor force but still part of the adult population). or "not in the adult nooulation" if not in the civilian adult population. Complefe the right haif of the foliowing equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? 40% 5006 80% 100% Complete the right haif of the following equation to refiect the unemployment rate reported by the BLS. Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? 40% 50% 8096 100%

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

Operational Auditing A Complete Guide Practical Tools For Self Assessment

Authors: The Art Of Service Operational Auditing Publishing

2021 Edition

1867442043, 978-1867442042

More Books

Students also viewed these Accounting questions