Calculate the labor force and labor force participation rate

Assignment Help Business Economics

Reference no: EM131425970

An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have part time job, 5 have 2 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.

Calculate the labor force and the labor force participation rate.

Calculate the number of unemployed and the unemployment rate.

Reference no: EM131425970

Questions Cloud

Absolute value of marginal rate of substitution : Kevin has well-behaved preferences and currently has a bundle with positive amounts of two goods. Let x1 and x2 denote the quantities of goods 1 and 2, respectively. Thinking in terms of x1 on the horizontal axis, the absolute value of Kevin’s margin..

Briefly triple bottom line-linear flow model of material : Explain briefly Triple bottom line, Linear flow model of material, Pollution prevention hierarchy, Coase’s Theorem and empirical evidence

What is her marginal rate of substitution : Alice is an excellent statistician and is very precise. In fact, she knows that one of her indifference curves is precisely described by the following equation x2 = 20 − 4 √ x1 . If Alice chooses the bundle (x1, x2) = (4, 12), what is her marginal ra..

Suppose that the velocity of money is constant : Suppose that the velocity of money is constant. Real GDP grows by 2 percent per year, the money stock grows by 10 percent per year, and the nominal interest rate is 10 percent. What is the real interest rate?

Calculate the labor force and labor force participation rate : An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have part time job, 5 have 2 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 look..

Affect population growth-birth and fertility rates : Identify two public policies that affect population growth - birth and fertility rates.Do you support these policies? Explain. What – other than public policy – affect population growth rates in different regions? Give examples.

Labour-leisure diagrams : Using the labour-leisure diagrams, draw and examine the effects of the following job characteristics and preferences. In particular examine the effect on the reservation wage and the decision of how many hours to work.

Define and describe different types of market faliure : What is the difference between Microeconomics and Macroeconomics? What is the definition of a market failure? Why do they occur? When and where did the modern business cycle begin? Define and describe different types of market faliure. What is the de..

Draw original budget constrain before an overtime premium : Suppose the NDP come into power and decided to mandate that films pay a 50% over-time premium on hours worked beyond 8 hours a day. Draw the original budget constrain before an overtime premium was required and compare it to the new budget constraint..

User Account

All Pages