Refer to the table below: Year Labor Force Unemployment Rate 2000 142,583,000 4.0 2001 143,734,000 4.7 2002 144,863,000 5.8 2003 146,510,000 6.0 2004 149,401,000 5.5 2005 149,320,000 5.1 2006 151,428,000 4.6 2007 153,124,000 4.6 2008 154,287,000 5.8 2009 154,142,000 9.3 2010 153,889,000 9.6 2011 153,617,000 8.5 2012 154,995,000 7.9 2013 155,389,000 6.7 2014 155,922,000 6.2 2015 157,130,000 5.3 2016 159,187,000 4.9 2017 160,320,000 4.4 2018 162,075,000 3.9 2019 163,539,000 3.7 Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number a. What was the unemployment rate in 2011? % b. How many more jobs were needed to bring the unemployment rate down to 4 percent in 2011?

Refer to the table below: Year Labor Force Unemployment Rate 2000 142,583,000 4.0 2001 143,734,000 4.7 2002 144,863,000 5.8 2003 146,510,000 6.0 2004 149,401,000 5.5 2005 149,320,000 5.1 2006 151,428,000 4.6 2007 153,124,000 4.6 2008 154,287,000 5.8 2009 154,142,000 9.3 2010 153,889,000 9.6 2011 153,617,000 8.5 2012 154,995,000 7.9 2013 155,389,000 6.7 2014 155,922,000 6.2 2015 157,130,000 5.3 2016 159,187,000 4.9 2017 160,320,000 4.4 2018 162,075,000 3.9 2019 163,539,000 3.7 Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number a. What was the unemployment rate in 2011? % b. How many more jobs were needed to bring the unemployment rate down to 4 percent in 2011?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.4CE

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