Question 1

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Accepted Answer

Step 1: Calculate the size of the labor force 
Labor force participation rate = (Labor force / Adult population) * 100 
60 = (Labor force / 50 million) * 100 
Labor force = (60 / 100) * 50 million = 30 million

Step 2: Calculate the number of employed people 
Employment rate = (Employed people / Labor force) * 100 
Employment rate = (100% - Unemployment rate) 
Employed people = (95 / 100) * 30 million = 28.5 million

Step 3: Calculate the number of unemployed people 
Unemployed people = Labor force - Employed people 
Unemployed people = 30 million - 28.5 million = 1.5 million

Therefore, the answer is B) 1.5 million.

Question 2

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. How many adults were not in Baltivia's labor force in 2009?

Accepted Answer

To find the number of adults not in the labor force, we need to subtract the number of employed adults and the number of unemployed adults from the total number of adults in the population. This calculation is (23,000 - 10,580 - 4,020) = 7,400. Therefore, the answer is C.

Question 3

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. What is the labor-force participation rate?

Accepted Answer

The answer of Scenario 28-1
Suppose that the Bureau of Labor...

Question 4

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

The answer of According to 2012 data on the U.S....

Question 5

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Accepted Answer

The labor force is the sum of employed and unemployed people, which is 12,600 in this case.

Question 6

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. How many people are unemployed?

Accepted Answer

According to the scenario, there are 3 million people unemployed in Mankiwland.

Question 7

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Accepted Answer

The answer of Suppose that the adult population in the...

Question 8

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

According to the data, black males had lower labor-force participation rates (78.6%) compared to white males (88.8%) and higher unemployment rates (12.7%) compared to white males (7.1%). Therefore, option D is correct.

Question 9

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. What is the total labor force?

Accepted Answer

The total labor force is comprised of the employed and the unemployed, so it is 25 million + 3 million = 28 million. The discouraged workers and other non-employment seekers are not part of the labor force.

Question 10

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Accepted Answer

The total number of employed persons in Baltivia in 2009 is the sum of employed persons in each sector, which is 11,000. Therefore, choice C is correct.

Question 11

According to 2012 data on the U.S. population, which of the following was correct?

Accepted Answer

According to the data from 2012, adults of prime working age (ages 25-54) had higher labor-force participation rates and lower rates of unemployment compared to teenagers. This means that a higher percentage of adults in this age range were either employed or actively seeking employment, and they also had a lower unemployment rate compared to teenagers.

Question 12

Recent entrants into the labor force account for about

Accepted Answer

Recent entrants into the labor force are typically young individuals who are new to the job market, and may not have the necessary skills or experience to secure employment immediately. According to recent data, they account for approximately 1/3 of those who are unemployed.

Question 13

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?

Accepted Answer

The answer of Suppose that some country had an adult...

Question 14

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. What was Baltivia's unemployment rate in 2009?

Accepted Answer

To calculate the unemployment rate, divide the number of unemployed individuals by the total labor force and then multiply by 100. In this case, the number of unemployed individuals is 1,066 and the total labor force is 6,714. 
(1,066 ÷ 6,714) × 100 = 15.89 or 15.9% (rounded to one decimal place). Thus, the correct answer is B) 15.9%.

Question 15

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. What is the unemployment rate?

Accepted Answer

The answer of Scenario 28-1
Suppose that the Bureau of Labor...

Question 16

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

Accepted Answer

The answer of Table 28-3
2009 Labor Data for Baltivia 
-Refer...

Question 17

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. How many people were unemployed in Baltivia in 2009?

Accepted Answer

The answer of Table 28-3
2009 Labor Data for Baltivia 
-Refer...

Question 18

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Accepted Answer

The answer of Suppose that some country had an adult...

Question 19

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Accepted Answer

The number of individuals in the labor force would be:

46 million * 0.75 = 34.5 million

To find the number of individuals who are unemployed, we can use the unemployment rate:

Unemployed = 8% * 34.5 million 
Unemployed = 2.76 million

Therefore, the answer is B) 2.76 million.

Question 20

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Accepted Answer

The labor-force participation rate of 60 percent means that 60 percent of the adult population (25 million) was in the labor force, which comes out to be 0.6 x 25 million = 15 million.

The unemployment rate of 6 percent means that 6 percent of the labor force was unemployed, which comes out to be 0.06 x 15 million = 0.9 million.

Therefore, the number of people employed would be the difference between the labor force and the unemployed population:

Number of people employed = Labor force - Unemployed population 
= 15 million - 0.9 million 
= 14.1 million

Hence, option B) is the correct choice.

Quiz 28: Unemployment

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many adults were not in Baltivia's labor force in 2009?

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

According to 2012 data on the U.S. population, which of the following was correct?

Recent entrants into the labor force account for about

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's unemployment rate in 2009? A) 12.7%

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's laborforce participation rate in 2009?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were unemployed in Baltivia in 2009?

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Quiz 28: Unemployment

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many adults were not in Baltivia's labor force in 2009?

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

According to 2012 data on the U.S. population, which of the following was correct?

Recent entrants into the labor force account for about

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's unemployment rate in 2009? A) 12.7%

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were unemployed in Baltivia in 2009?

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's laborforce participation rate in 2009?