Suppose the current unemployment rate is 5 percent, the labor force is 400 million people, the labor force participation rate is 80 percent and the working-age population is 500 million people. What number of people are unemployed?
What will be an ideal response?
The number of unemployed people equals the labor force multiplied by the unemployment rate. Hence the number of unemployed people is (400 million) × (5 percent) = 20 million people.
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The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the short run, Golden Chow sells 400 cans of dog food per day and makes ________
Other firms have ________ incentive to enter the industry. A) an economic profit of $200 a day; an B) an economic profit of $400 a day; an C) a normal profit of $200 a day; no D) an economic profit of $400 a day; no
Investment (I) in the United States may increase with either an increase in national saving or an increase in net foreign investment
Indicate whether the statement is true or false
The fixed cost curve:
A. is steep when output levels are low, then flattens as output increases. B. is flatter when output levels are low, then gets steeper as output increases. C. is a constant, flat line. D. is a constant, vertical line.
Which of the following is the most common form of business organization in the United States?
A. S-corporation B. corporation C. partnership D. proprietorship