Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Chapter 1, Problem 2QQ
To determine
Identify which fraction is an
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A country has a population of 160 million. Out of this population, the number of retired people is 23 million, the number of people below working age (under 16 years) is 39 million, and the number of people under different types of institutional care is 1.5 million. In this country, the number of the employed amount to 75 million people and the unemployed amount to 4 million people. Calculate the following and show your work
Working-age population
Unemployment rate
The economic activity rate
Employment rate
An economy has 100 peõple
divided among the following groups: 25 have
full-time jobs, 20 have one part-time job, 5 have
two part-time jobs, 10 would like to work and
are looking for jobs, 10 would like to work but
are so discouraged they have given up looking,
10 are running their own businesses, 10 are
retired, and 10 are small children.
a. Calculate the labor force and the labor-force
participation rate.
The unemployment rate is the percentage of the total work force that is not working but is
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- Question Help The table gives information about a nation's labor force. Labor Market Data What is the number unemployed? Labor force 143.7 milion Not in labor force 714 million The number unemployed is million. Employed 136.9 million >>> Answer to 1 decimal place.arrow_forwardThe following data pertains to Googa, an economy. Population:258 million. Population 16 years and under or institutionalized: 116 million. Population employed: 89 million. Population unemployed: 3 million. Population employed part time, but willing to work full time 16 million. Population currently not employed, not seeking employment, but willing and able to work 5 million. a. what is the labor force in Googa? b. what is the unemployment rate in Googa?arrow_forwardSuppose that the county of Bigu has a population of 127 million, of which 83 million are in the working-age population. OF those, 25 million are not in the labor force and 52 million are employed. A. Calculate the working-age population as a percentage of the population B. Calculate the labor force participation rate C. Calculate the unemployment rate.arrow_forward
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