Population: 360 million Working - age population: 300 million Labor Force: 200 million Number of people Unemployed: 8 million The employment - population ratio for this economy is %, and the unemployment rate for this economy is %.
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- Percentage GDP Gap (4.00) Okun's Law (Quarterly Data from 1st Quarter of 1949 to 2nd Quarter of 2019) 0.100 (3.00) (2.00) 0.080 0.060 0.040 0.020 (0.040) (0.060) (0.080) 1.00 Cyclical Unemployment Rate 2.00 3.00 Okun's a 1.4 4.00 5.00 6.00 Consider the graph above that exhibits the Okun's Law. The graph has been constructed using the quarterly data on U. S. real GDP, potential GDP, and cyclical unemployment rate from 1949 to 2019. The graph indicates a positive relationship between cyclical rate of unemployment and the percentage GDP gap. This is as predicted by Arthur Okun. However, notice two things. First, the relationship is not exact. The points do not lie very close to the line of best fit. Second, the Okun's alpha for this period equals 1.40. However, the existence of a positive relationship is undeniable. The Okun's alpha in that graph (1.40) indicates that if the cyclical rate of unemployment is 3%, the GDP gap will equal the cyclical rate of unemployment is -3%, the GDP gap…Assume the total population is 3500. Of the total population, 1800 are working full-time. Of the not-working population, 1000 are under 16 years of age, 350 are full-time/not-working college students, 50 were retired, 150 had stopped looking for work because they think there were no jobs for them, and 150 are diligently looking for work. 6. Calculate # of non-labor force. 7. Calculate the unemployment rate (%). 8. Assuming "discouraged labor" is considered "unemployed," calculate the unemployment rate (%). -----. -----------a) Following data from the labour department of Country X is provided In Millions Total Civilian Population 340 Employed Workers 123 People not looking for work 48 People incapable of work 23 Using the table above, calculate the unemployment rate. b) Based on the information given in the table below, calculate the value of Net Domestic Product (NDP) of Country X. ITEM $(millions) Household Consumption 2,780 Depreciation of capital goods 365 Factor income received from abroad 580 Government investment 824 Exports 663 Imports 790 Factor income paid to abroad 525 Gross private domestic investment 894 Government Consumption 347 Transfer Payments 1,109 c) What is the difference between 'flow' and 'stock'? d) Explain three shortcomings of using GDP to measure the size of the economy.
- The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.”Bureau of Labor Statistics. What is the national unemployment rate? 2.7% 4.4% 7.4% 59.1% Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Which of the following groups has an unemployment rate lower…The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.Alert dont submit AI generated answer. Who is counted as unemployed? (Assume age 15 or older) A person who is not in the labor force Anyone without a job who is currently seeking work. Anyone without a job. A person who has been without a job for a minimum of four weeks.
- The population of Gilligan’s Island is 100 people: 40 work full-time, 20 work half-time but prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given looking, 10 are not interested in working because they are full-time students, and 10 are retired. a) What is the unemployment rate?b) What is the employment-to-population ratio? c) Suppose that two of the people looking for jobs become discouraged and stop searching. What is the unemployment rate in this case? What is the employment-to-population ratio?If the number employed is 170 million, the working-age population is 240 million, and the number unemployed is 20 million, the labor force participation rate is 65%, then the unemployment rate is A. 18.8% B. 10.5% C. 29.2% D. 8.3% E. can not be determined because we do not know what the labor participation rate is for the actual working age population.Q) Country A has a total population of 2.5m and 1.8m are 15+ year-olds. The unemployed population is 0.2m and the employed population is 1.5m. What is the working age population based on the definition in the lecture note? 2.5m 1.9m 4.4m 1.7m 1.8m
- Calculate unemployment rate if adult population of the nation is 900 people of which 550 people are working and 50 are looking for workingIn a country number of employed is 27 million, number of unemployed is 3 million and population(+16 years old) is 60 million. According to this; 1- Calculate the unemployment rateIn the country of Kong the labor force participation rate is 64%, the unemployment rate is 16%, and the adult population was 57140. How many people are employed in Kong?