What is the size of labor force-what is unemployment rate

Assignment Help Business Economics

Reference no: EM13831133

Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force? What is the unemployment rate?

Reference no: EM13831133

Questions Cloud

Operates radio and television stations in the midwest : Midwest Media Inc. is a broadcasting firm that owns and operates radio and television stations in the Midwest. The firm is currently considering the purchase of a proximate fast food chain that is experiencing financial difficulty. What recommendatio..

Calculate the degree of economies of scope and interpret : The Johnson Corporation produces 1000 wood cabinets and 500 wood desks per year, for total cost of $30,000. It has been estimated that if the firm produced 1000 wood cabinets only, the cost would be $23,000, and if the firm produced 500 wood desks on..

What is this years rate of inflation : If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second..

Balance the need for scalability against : Your company is bidding on a system design project. It is your job to design the system architecture. How will you balance the need for scalability against the need to keep costs as low as possible to win the bid?

What is the size of labor force-what is unemployment rate : Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force..

Famer develops and patents new method for growing corn : A famer develops and patents a new method for growing corn that decreases the cost of growing corn by $300 per acre. thereby increasing his profits from growing corn. According to ____principle. The farm argues that he should keep the entire $300 per..

Principle in economics : A Pizzeria owner discovers that he hisres an additional pizza cook . he can sell another 40 pizza a day. this is an example of the ____ principle in economics.

Describe the two major types of administrative agencies : Describe the two major types of administrative agencies: executive and independent. Why is it important to have independent agencies?

What is the price elasticity of labor supply : Suppose a wage increase from $11 to $13 an hour increases the number of job applicants from 42 to 56. What is the price elasticity of labor supply?

User Account

All Pages