Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show works! An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 part-time jobs, 5 has two part-time jobs, 10

Show works!

An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 part-time jobs, 5 has two part-time jobs, 10 is looking for jobs, 10 are discourage workers who has given up looking for jobs, 10 run their own businesses, 10 are retired, and 10 small children.

a) Calculate the labor force and the labor-force participation rate

b) Calculate the number of unemployed and the unemployment rate

c) Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey

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 End Of Poverty Economic Possibilities For Our Time

Authors: Jeffrey D Sachs, Bono

1st Edition

0143036580, 9780143036586

More Books

Students also viewed these Economics questions