In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 4%. Although workers prefer full-time jobs, all industries have a combination of full-time and part- time (underemployed) workers. In 2010, the total population was 14 million with an adult population of 12.2 million, and real output for the year was $350 billion. In the same year, 7.6 million people were employed, 1.5 million people were part-time workers, and 400,000 people were unemployed. Furthermore 300,000 individuals stated that they were discouraged from searching for a job. (Question 1 of 7) What was the real GDP per capita in 2010? (report your answer up to 2 decimal places)

In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 4%. Although workers prefer full-time jobs, all industries have a combination of full-time and part- time (underemployed) workers. In 2010, the total population was 14 million with an adult population of 12.2 million, and real output for the year was $350 billion. In the same year, 7.6 million people were employed, 1.5 million people were part-time workers, and 400,000 people were unemployed. Furthermore 300,000 individuals stated that they were discouraged from searching for a job. (Question 1 of 7) What was the real GDP per capita in 2010? (report your answer up to 2 decimal places)

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter6: Business Cycles And Unemployment

Section: Chapter Questions

Problem 19SQ

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In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 5%. Although workers prefer full-time jobs, all industries have a combination of full-time and part-time (underemployed) workers. In 2010, the total population was 10 million with an adult population of 7.8 million, and real output for the year was $270 billion. In the same year, 4.5 million people were employed, 1.5 million people were part-time workers, and 300,000 people were unemployed. Furthermore 400,000 individuals stated that they were discouraged from searching for a job. (Question 3 of 7) What was the labor productivity in 2010? (report your answer up to 2 decimal places)
In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 5%. Although workers prefer full-time jobs, all industries have a combination of full-time and part-time (underemployed) workers. In 2010, the total population was 10 million with an adult population of 7.8 million, and real output for the year was $270 billion. In the same year, 4.5 million people were employed, 1.5 million people were part-time workers, and 300,000 people were unemployed. Furthermore 400,000 individuals stated that they were discouraged from searching for a job. (Question 5 of 7) Now, consider that at the beginning of 2011, the government implemented a five-year economic growth plan- a set of policies aimed at encouraging foreign investment in the information technology industry. The shift towards the information technology industry impacted the labor market. In addition, initial spillover effect from these investments includes changes in the…
In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 5%. Although workers prefer full-time jobs, all industries have a combination of full-time and part-time (underemployed) workers. In 2010, the total population was 10 million with an adult population of 7.8 million, and real output for the year was $270 billion. In the same year, 4.5 million people were employed, 1.5 million people were part-time workers, and 300,000 people were unemployed. Furthermore 400,000 individuals stated that they were discouraged from searching for a job. (Question 7 of 7) Now, consider that at the beginning of 2011, the government implemented a five-year economic growth plan- a set of policies aimed at encouraging foreign investment in the information technology industry. The shift towards the information technology industry impacted the labor market. In addition, initial spillover effect from these investments includes changes in the…
In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 5%. Although workers prefer full-time jobs, all industries have a combination of full-time and part-time (underemployed) workers. In 2010, the total population was 10 million with an adult population of 7.8 million, and real output for the year was $270 billion. In the same year, 4.5 million people were employed, 1.5 million people were part-time workers, and 300,000 people were unemployed. Furthermore 400,000 individuals stated that they were discouraged from searching for a job. (Question 6 of 7) Now, consider that at the beginning of 2011, the government implemented a five-year economic growth plan- a set of policies aimed at encouraging foreign investment in the information technology industry. The shift towards the information technology industry impacted the labor market. In addition, initial spillover effect from these investments includes changes in the…
In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 5%. Although workers prefer full-time jobs, all industries have a combination of full-time and part- time (underemployed) workers. In 2010, the total population was 10 million with an adult population of 7.8 million, and real output for the year was $270 billion. In the same year, 4.5 million people were employed, 1.5 million people were part-time workers, and 300,000 people were unemployed. Furthermore 400,000 individuals stated that they were discouraged from searching for a job. (Question 1 of 7) What was the real GDP per capita in 2010? (report your answer up to 2 decimal places)
In a macroeconomy where textile and information technology are among the major industries, the natural rate of unemployment is 4%. Although workers prefer full-time jobs, all industries have a combination of full-time and part- time (underemployed) workers. In 2010, the total population was 14 million with an adult population of 12.2 million, and real output for the year was $350 billion. In the same year, 7.6 million people were employed, 1.5 million people were part-time workers, and 400,000 people were unemployed. Furthermore 300,000 individuals stated that they were discouraged from searching for a job. (Question 2 of 7) What was the U-3 unemployment rate in 2010? (report your answer up to 2 decimal places)
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non- institutionalized population was 7.568 million, the labor force was 4.888 million, and the number of people employed was 4.486 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about 64.6% and 8.2%. 64.6% and 5.3%. 59.3% and 8.2%. 59.3% and 5.3%.
According to the Census Bureau, the US working-age population in July 2017 was around 326 million. At the same time, the labor force was 203.75 million, and the total number of people employed was 195 million. According to these numbers, the US labor-force participation rate and unemployment rate in July 2017 were: 62.5% and 2.7 % 95.7% and 2.7% 62.5% and 4.3 % 59.9% and 4.3 %
In a given community, the unemployment rate is 5% and their working-age population is 4 Million. Labor force participation was 82% in this community in December of 2009. In January 2010 a new social security policy was implemented, allowing people to retire and collect their social security benefits earlier than expected. 200 thousand older workers retired at the end of January due to the new policy. Further, 2000 senior citizens that were out of the labor force(in December) started collecting their social security retirement benefits in January due to their past contributions. What is the Unemployment rate in February assuming everything else was fixed at their December values? ( Please round your answer to include 2 decimal places, do not include the percent sign in the answer. That is, If you find 8.33333% is the new unemployment rate, input your answer as 8.33)
In a given community, the unemployment rate is 4% and their working-age population is 930,000. Labor force participation was 81% in this community in December of 2009. In January 2010 a new social security policy was implemented, allowing people to retire and collect their social security benefits earlier than expected. 200 thousand older workers retired at the end of January due to the new policy. Further, 2000 senior citizens that were out of the labor force (in December) started collecting their social security retirement benefits in January due to their past contributions. What is the Unemployment rate in February assuming everything else was fixed at their December values?
in the United States, the adult population is 160.5 million, the labor force is 75.6 million, and the number of people employed is 70.2 million. According to those numbers, the United States labor force participation rate and unemployment rate are about 43.7% and 2.12% 47.1% and 7.1% 43.7% and 7.796 90.8% and 7.1%
Suppose the population of a fictional economy falls into the following categories: 28 million are retired or homemakers; 30 million have full-time employment; 24 million have one part-time job; 28 million have two part-time jobs; 12 million do not have employment, but are actively looking for employment; and 20 million would like employment but do not have employment and are not actively looking for employment. 5 million are under the age of 10. What is the labor force participation rate (as a percentage, not decimals) for this economy? Use the numbers from Question above