Questions
ECN 001B C01-C06 WQ 2025 Homework 3 - Unemployment
Single choice
In a particular month BLS asks 60,000 randomly selected sample of Americans a few questions to determine the state of the labor market. The following table shows the result: Number of people who had a job 52,800 Number of people who did not have a job 7,200 Of the number of people who did not have a job, those who were looking for one in the last four months 5,222 The BLS classifies [marginal] people in the sample as marginally attached to labor force.
Options
A.1978.00
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
We start by restating the data given in the question so we can reason through what is being asked.
- Employed: 52,800
- Unemployed: 7,200
- Total sample: 60,000
- Of those who did not have a job, those who were looking for one in the last four months: 5,222
Next, we classify the groups relevant to marginal attachment to the labor force.
- The number not in the labor force equals total minus those who are employed or unemployed: 60,000 − (52,800 + 7,200) = 0. So in this case, everyone is either employed or unemployed; there is no separate not-in-labor-force group remaining from those figures. How......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
Table 28-2 Suppose people in the adult population in a small country are classified based on their age. Labor Force Status Age Less than 55 55 and Older Number employed 400,000 100,000 Number unemployed 25,000 7,000 Number in population 600,000 200,000 Refer to Table 28-2. In the proper order, which age group has the highest unemployment rate and which has the highest labor-force participation rate?
Which statement best describes discouraged workers?
Discouraged workers are counted as:
Alberto just received a promotion at work and now works 50 hours per week instead of 35 hours per week. As a result,
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!