Answer the following questions using the labour statistics of Glenville below:

Employed
         13,667,890

Unemployed
           2,352,768

Not in the labour force
           8,091,380

a) The number of people in the adult population is

[ Select ]

["16,020,658", "13,667,890", "24,112,038", "None of the options"]

.
b) The number of people in the labour force is

[ Select ]

["13,667,890", "16,020,658", "21,759,270", "24,112,038"]

.
c) The unemployment rate is

[ Select ]

["9.76%", "14.69%", "17.21%", "29.08%"]

.
d) The labour force participation rate is

[ Select ]

["33.56%", "56.68%", "66.44%", "85.31%"]

.
e) Ceteris paribus, if the number of employed decreased, then the unemployment rate would

[ Select ]

["increase", "decrease", "remain unchanged"]

.

Question

Answer the following questions using the labour statistics of Glenville below:

Employed
         13,667,890

Unemployed
           2,352,768

Not in the labour force
           8,091,380

a) The number of people in the adult population is 
  
    [ Select ]
  
  ["16,020,658", "13,667,890", "24,112,038", "None of the options"]

.
b) The number of people in the labour force is 
  
    [ Select ]
  
  ["13,667,890", "16,020,658", "21,759,270", "24,112,038"]

.
c) The unemployment rate is 
  
    [ Select ]
  
  ["9.76%", "14.69%", "17.21%", "29.08%"]

.
d) The labour force participation rate is 
  
    [ Select ]
  
  ["33.56%", "56.68%", "66.44%", "85.31%"]

.
e) Ceteris paribus, if the number of employed decreased, then the unemployment rate would 
  
    [ Select ]
  
  ["increase", "decrease", "remain unchanged"]

.

BlackTom AI · Accepted Answer

We start by identifying the given figures:
- Employed: 13,667,890
- Unemployed: 2,352,768
- Not in the labour force: 8,091,380

First, compute the totals needed for each part.

a) The number of people in the adult population is
   ["16,020,658", "13,667,890", "24,112,038", "None of the options"]
- The adult population is the sum of employed, unemployed, and not in the labour force. Adding employed and unemployed gives 13,667,890 + 2,352,768 = 16,020,658. Then include those not in the labour force: 16,020,658 + 8,091,380 = 24,112,038. So the correct adult population is 24,112,038. The other numbers correspond to parts of the calculation: 16,020,658 is the total in the labour force (employed + unemployed) and 13,667,890 is only the employed, while 'None of the options' would be incorrect because one option matches exactly.

b) The number of people in the labour force is
   ["13,667,890", "16,020,658", "21,759,270", "24,112,038"]
- Labour force includes those who are employed or unemployed, i.e., employed + unemployed = 13,667,890 + 2,352,768 = 16,020,658. The other numbers do not reflect this sum: 13,667,890 is just employed, 24,112,038 is the adult population, and 21,759,270 does not correspond to any primary subtotal here. So 16,020,658 is the correct choice for labour force.

c) The unemployment rate is
   ["9.76%", "14.69%", "17.21%", "29.08%"]
- Unemployment rate = unemployment / labour force = 2,352,768 / 16,020,658 ≈ 0.1469, which is about 14.69%. The other percentages come from incorrect denominators or numerators: 9.76% would require a different ratio, 17.21% would imply a larger share of unemployed, and 29.08% would be unrealistically high given the numbers here. So 14.69% is the accurate rate.

-d) The labour force participation rate is
   ["33.56%", "56.68%", "66.44%", "85.31%"]
- Participation rate = labour force / adult population = 16,020,658 / 24,112,038 ≈ 0.6644, or 66.44%. The other options correspond to lower or higher proportions that do not match the ratio of the calculated labour force to the total adult population. Therefore 66.44% is correct.

-e) Ceteris paribus, if the number of employed decreased, then the unemployment rate would
   ["increase", "decrease", "remain unchanged"]
- If employment falls while the number of unemployed and the size of the labour force are held constant, the labour force shrinks but the number of unemployed does not change, so the unemployment rate (unemployed divided by labour force) would rise. It would not stay the same or fall under those assumptions. Thus the unemployment rate would increase.

In summary, each option aligns with standard definitions: adult population equals employed plus unemployed plus not in the labour force; the labour force is employed plus unemployed; the unemployment rate is unemployed divided by labour force; the participation rate is labour force divided by adult population; and an isolated drop in employed (with others fixed) drives the unemployment rate up.

23115 Economics for Business - Autumn 2025 Assessed Quiz 5 - Inflation and Unemployment

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