Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The table below presents labor market data for three countries. All population values are in millions. Country Working-age Labor population force Employed Unemployed Unemployment
The table below presents labor market data for three countries. All population values are in millions. Country Working-age Labor population force Employed Unemployed Unemployment rate (1) Labor-force participation rate (4) Japan France Germany 109 61 5 32 6 55.17 76 48 8.33 Instructions: For the last two columns, enter your responses as percentages rounded to one decimal place. Instructions: Round your answers for the working-age population, labor force, employed, and unemployed to the nearest whole number. a. Fill in the blanks in the table above. b. In part a, you may have noticed that the unemployment rates of the three countries differ from one another. Which of the following are possible reasons why a country may have a higher unemployment rate? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. The country could be in a recession and have higher cyclical unemployment. The country could have a lower natural rate of unemployment The country could have higher (and binding) minimum wages. The country could have a more liberalized labor market, leading to lower frictional unemployment.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started