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    please classify the given groups of people as either employed, unemployed, or not in the labor force.

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    EC CH 11.docx

    View EC CH 11.docx from ECON 175 at Orange Coast College. CH 11 1. Please classify the given groups of people as either employed, unemployed, or not in the labor force. -Employed: those who worke

    EC CH 11.docx - CH 11 1. Please classify the given groups...

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    CH 111. Please classify the given groups of people as either employed, unemployed, or not in the laborforce.

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    Not in the labor force: people in prison, retires, mental , actively hooked, military, student,homemaker,2..The overall population for Region A is96million people. The labor force contains40millionpeople,29million people are employed, and11million are unemployed. What is theunemployment rate? Round your answer to the nearest whole number.

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    3. After a financial crisis hits the country of Barbaria,9million people become unemployed. If25million individuals are lucky enough to keep their jobs, what is the unemployment rate?Please specify your answer to two decimal places.

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    4.he table shows employment statistics for a fictional country. Use the information to answer thequestions. Round your percentages to two decimal places.

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    Term Spring Professor N/A Tags Unemployment Report

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    ECON 202 Ch 11 HW: Unemployment and Labor Force Participation Flashcards

    Macroeconomics Learn with flashcards, games, and more — for free.

    ECON 202 Ch 11 HW: Unemployment and Labor Force Participation

    Please classify the given groups of people as either employed, unemployed or not in the labor force.

    1. people temporarily away from their jobs due to illness

    2. people in prison

    3. people temporarily away from their jobs due to vacation

    4. those who worked during the previous week

    5. full-time home-makers

    6. retirees who neither have a job nor are looking for a job

    7. mental patients confined in institutions

    8. people in active military service

    9. people who do not have a job but actively looked in the last four weeks

    10. full-time students

    11. people who actively looked for a job during the last 12 months, but not the last four weeks

    Click card to see definition 👆

    Employed:- those who worked during the previous week- people temporarily away from their jobs due to illness- people temporarily away from their jobs due to vacationUnemployed:- people who do not have a job but actively looked in the last four weeksNot in the Labor Force:- full-time students- people in active military service- full-time home-makers- people in prison- retirees who neither have a job nor are looking for a job- mental patients confined in institutions- people who actively looked for a job during the last 12 months, but not in the last four weeks

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    The overall population for Region A is 110110 million people. The labor force contains 4949 million people, 2626 million people are employed, and 2323 million are unemployed. What is the unemployment rate? Round your answer to two decimals.

    Click card to see definition 👆

    Unemployment Rate = Unemployed Force / Total Labor Force= 2323 / 4949 = 46.94%

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    1/11 Created by kearagolden1PLUS Macroeconomics

    Terms in this set (11)

    Please classify the given groups of people as either employed, unemployed or not in the labor force.

    1. people temporarily away from their jobs due to illness

    2. people in prison

    3. people temporarily away from their jobs due to vacation

    4. those who worked during the previous week

    5. full-time home-makers

    6. retirees who neither have a job nor are looking for a job

    7. mental patients confined in institutions

    8. people in active military service

    9. people who do not have a job but actively looked in the last four weeks

    10. full-time students

    11. people who actively looked for a job during the last 12 months, but not the last four weeks

    Employed:- those who worked during the previous week- people temporarily away from their jobs due to illness- people temporarily away from their jobs due to vacationUnemployed:- people who do not have a job but actively looked in the last four weeksNot in the Labor Force:- full-time students- people in active military service- full-time home-makers- people in prison- retirees who neither have a job nor are looking for a job- mental patients confined in institutions- people who actively looked for a job during the last 12 months, but not in the last four weeks

    The overall population for Region A is 110110 million people. The labor force contains 4949 million people, 2626 million people are employed, and 2323 million are unemployed. What is the unemployment rate? Round your answer to two decimals.

    Unemployment Rate = Unemployed Force / Total Labor Force= 2323 / 4949 = 46.94%

    Which of the factors would decrease the rate of frictional unemployment?

    a. the advent of the Internet, which makes finding available jobs easier

    b. increased short-term unemployment benefits

    c. an increase in the number of jobs available due to an increase in GDP

    d. improvements in technology that make skills which were once valued by employers obsolete

    a. the advent of the Internet, which makes finding available jobs easier

    When the economy is doing well, a significant share of unemployment is frictional.

    a. true b. false

    a. true

    Which of the choices is the best example of creative destruction?

    a. In the past month, there were 20,000 layoffs but 22,000 new hires.

    b. The prime minister signs into law that the minimum wage will go down by 50 cents.

    c. A chemical plant decides to use a new process in their reactions, which after combustion results in large amounts of pink smoke being emitted to the nearby town and consequent fires in the chemical plant.

    d. An antitrust suit is filed in court against a monopolist.

    a. In the past month, there were 20,000 layoffs but 22,000 new hires.

    The typewriter industry goes bankrupt and lays off all its workers. In sharp contrast, the burgeoning electronic word processing industry hires 10,000 workers that same year. This type of unemployment resulting from the shift in industries would best be categorized under

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